Report of Foreign Issuer (6-k)
September 21 2018 - 12:09PM
Edgar (US Regulatory)
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
of September, 2018
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.
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):
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):
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:
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
Subject:
Disclosures 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 exchanges.
Pursuant
to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 read with SEBI circular no. CIR/CFD/CMD/4/2015
dated September 9, 2015, we give below the disclosure with respect to the equity shares and compulsorily convertible cumulative
preference shares (CCCPS) which ICICI Bank Limited proposes to acquire in Avenues Payment India Private Limited (APIPL).
a.
|
Name
of the target entity, details in brief as size, turnover etc.
|
Avenues
Payment India Private Limited (FY18)
Total
Income (FY18) – Rs. 12 million.
|
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
“arms length”
|
This
transaction does not constitute a related party transaction. ICICI Bank has no promoters. None of the group companies of ICICI
Bank (including ICICI Bank) have any interest in the entity being acquired.
|
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
|
c.
|
industry
to which the entity being acquired belongs
|
APIPL
provides a global remittance platform catering to both Business-to-Consumer (B2C) and Business-to-Business (B2B) market segments.
|
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)
|
Objective
of this investment is to promote adoption of digital cross border remittance platforms for corporate and retail customers.
|
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 October 2018.
|
g.
|
Nature
of consideration - whether cash consideration or share swap and details of the same
|
Cash
consideration of Rs. 100.1 million.
|
h.
|
Cost
of acquisition or the price at which the shares are acquired
|
Cash
consideration of Rs. 100.1 million for 8.85% stake of Avenues Payment India Private Limited.
Details
of the transaction: Purchase of 100 equity shares of Rs. 10.00 each at a share premium of Rs. 6,142.00 each, and 16,155
CCCPS of Rs. 100.00 each at a share premium of Rs. 6,052.00 each.
|
i.
|
Percentage
of shareholding / control acquired and / or number of shares acquired
|
Post
investment, ICICI Bank will hold 8.85% stake in Avenues Payment India Private Limited through acquisition of 100 equity shares
and 16,155 CCCPS on as-if-converted basis.
|
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
|
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)
|
Avenues
Payment India Private Limited (APIPL)
Date
of incorporation: January, 2012
Products/Line
of business: APIPL provides a global remittance platform catering to both Business-to-Consumer (B2C) and Business-to-Business
(B2B) market segments.
History
of last 3 years turnover:
FY16:
Rs. 4.0 million
FY17:
Rs. 6.3 million
FY18:
Rs. 12.0 million
Country
of presence: India, United Kingdom and Australia.
|
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:
|
September 21,
2018
|
|
By:
|
/s/
Vivek Ranjan
|
|
|
|
|
Name :
|
Mr.
Vivek Ranjan
|
|
|
|
|
Title :
|
Chief
Manager
|
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