Pursuant to the provisions of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended from time to time, ICICI Bank has informed that the Board of Directors of the Bank at its meeting held on February 17-18, 2023, has approved a proposal for making I-Process Services (India) (‘iProcess’) a wholly-owned subsidiary of the Bank, subject to receipt of requisite regulatory and statutory approval(s). The Bank currently holds 19% stake in iProcess. The total outgo for the proposed acquisition is estimated at Rs 154.0 million, subject to finalisation of pricing, in accordance with applicable law/regulations, on receipt of necessary approval(s).
The above information is a part of company’s filings submitted to BSE.
