UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a -16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2024
Commission File Number: 001-15002
ICICI Bank Limited
(Translation of registrant’s name into English)
ICICI Bank Towers,
Bandra-Kurla Complex
Mumbai, India 400 051
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
| Form 20-F X | Form 40-F |
Table of Contents
Items:
| 1. | Other news |
OTHER NEWS
Subject: Disclosure under the Indian Listing Regulations
IBN
ICICI Bank Limited (the ‘Bank’) Report on Form 6-K
The Bank has made the below announcement to the Indian Stock exchanges:
The Board of Directors of ICICI Bank Limited (“the Bank”), at its meeting held today, approved a proposal for sale of 19% stake held in ICICI Merchant Services Private Limited (“IMSPL” or “the Company”), an associate of the Bank, subject to receipt of requisite approvals. Consequent to the completion of this transaction, IMSPL will cease to be an associate of the Bank.
Pursuant to Regulation 30 read with para A of part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Master Circular dated November 11, 2024, we wish to provide the following disclosure:
| a. | The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year | Name of associate company: ICICI Merchant Services Private Limited
Revenue from operations during FY2024: ₹ 4.75 billion Net worth of the Company at March 31, 2024: ₹ 6.45 billion |
| b. | Date on which the agreement for sale has been entered into | Will be executed before June 30, 2025 |
| c. | The expected date of completion of sale/disposal | By June 30, 2025 |
| d. | Consideration received from such sale/disposal | In the range of ₹ 1.60 -1.90 billion |
| e. | Brief details of buyers and whether any of the buyers belongs to promoter/ promoter group/ group companies. If yes, details thereof | First Data Holdings 1 (Netherlands) BV, a global leader in electronic commerce and payment services. The buyer does not belong to promoter/ promoter group/ group companies. |
| f. | Whether the transaction would fall within related party transaction? If yes, whether the same is done at “arm’s length” | This transaction does not constitute a related party transaction. |
| g. | Whether the sale, lease or disposal of the undertaking is outside Scheme of Arrangements? If yes, details of the same including compliance with regulation 37A of LODR Regulations | Not applicable |
| h. | Additionally, in case of a slump sale, indicative disclosure provided for amalgamation/ merger, shall be disclosed by the listed entity with respect to such slump sale | Not applicable |
The Board meeting commenced at 09:30 a.m. and concluded at 01:40 p.m.
We request you to take note of the above.
ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. | Tel.: 022- 4008 8900 Email:companysecretary@icicibank.com Website www.icicibank.com CIN.: L65190GJ1994PLC021012 |
Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara 390007. India |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.
For ICICI Bank Limited | |||||
| Date: | December 13, 2024 | By: | /s/ Vivek Ranjan | ||
| Name: | Vivek Ranjan | ||||
| Title: | Assistant General Manager | ||||