ICICI Bank has acquired additional stake in India International Clearing Corporation (IICC) at IFSC in GIFT City for Rs 4.43 crore. After investment, ICICI Bank's shareholding increased from 7.61 per cent to 9.90 per cent of the equity share capital of IICC.
IICC was incorporated at GIFT City, IFSC in Gandhinagar in Gujarat in September 2016. Its revenues in FY21 were Rs 1.8 crore and there was loss to the tune of Rs 3 crore. IICC is the first international clearing corporation set up at GIFT IFSC (International Financial Services Centre).
ICICI Bank is a leading private sector bank in India.
