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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month November, 2020
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 |
Indicate
by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1):
| Yes | No X |
Indicate
by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7):
| Yes | No X |
Indicate
by check mark whether by furnishing the information
contained in this Form, the Registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934:
| Yes | No X |
If “Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g 3-2(b): Not Applicable
Table of Contents
| Item | |
| 1. | Other news |
OTHER NEWS
Subject: Disclosure under 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:
We wish to inform you that ICICI Bank Limited (the “Bank”) has become one of the initial subscribers to the Memorandum and Articles of Association of IBBIC Private Limited (“IBBIC”) on November 20, 2020.
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 circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015, we wish to provide the following disclosure:
| a. | Name of the target entity, details in brief such as size, turnover etc. |
IBBIC Private Limited (The said company name is subject to approval of Registrar of Companies, Mumbai) |
| b. | Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” |
This transaction does not constitute a related party transaction. ICICI Bank has no promoters.
ICICI Bank and its subsidiaries in the normal course of business may have business dealings with IBBIC at an arm’s length. |
| c. | Industry to which the entity being acquired belongs | IBBIC is proposed to be incorporated as a financial technology company with the objective of providing a platform for exploring, building and implementing Distributed Ledger Technology (“DLT”) solutions for the financial services sector. |
| d. | Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity) |
Financial Investment |
| e. | Brief details of any governmental or regulatory approvals required for the acquisition |
Since the acquisition of shareholding is below 10%, regulatory approval is not required. |
| f. | Indicative time period for completion of the acquisition |
By end of December , 2020 |
| g. | Nature of consideration - whether cash consideration or share swap and details of the same |
Cash consideration of Rs.0.5 million. |
| h. | Cost of acquisition or the price at which the shares are acquired |
Cash consideration of Rs.0.5 million for 6.67% shareholding of IBBIC. |
| i. | Percentage of shareholding / control acquired and / or number of shares acquired | Post investment, ICICI Bank will hold 6.67% shareholding in IBBIC through acquisition of 50,000 equity shares of face value Rs.10 each. |
| j. | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) | Date of Incorporation: Company Registration application of IBBIC will be submitted to Registrar of Companies, Mumbai by the end of November, 2020.
IBBIC is proposed to provide a platform for exploring, building and implementing DLT solutions for the financial services sector.
History of last 3 years turnover: Not Applicable
Country of presence: India |
You are requested to please take the above on record.
ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. |
Tel.: (91-22) 2653 1414 Fax: (91-22) 2653 1122 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: | November 20, 2020 | By: | /s/ Vivek Ranjan | ||
| Name : | Vivek Ranjan | ||||
| Title : | Chief Manager | ||||
