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ICICI Bank signs agreement for investment in NARCL

11 Mar 2022 Evaluate

ICICI Bank has signed an agreement on March 10, 2022 for investment in National Asset Reconstruction Company (NARCL). NARCL is an asset reconstruction company. Equity investment would be in tranches with first tranche of equity investment of Rs 70.45 crore expected to be completed by March 31, 2022. Total cash consideration of up to Rs 137.50 crore in tranches to acquire up to 5.0% equity holding in NARCL.

ICICI Bank is a leading private sector bank in India.

Peers
Company Name CMP
HDFC Bank 692.30
ICICI Bank 1394.00
Axis Bank 1214.70
Kotak Mahindra Bank 461.00
Indusind Bank 840.00
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