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 January, 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.
| 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.
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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 following announcement to the Indian stock exchanges under the Indian listing regulations with respect to the equity shares and compulsorily convertible cumulative preference shares (CCCPS) which ICICI Bank Limited proposes to acquire in FTL Technology Systems Private Limited.
| a. | Name of the target entity, details in brief as size, turnover etc. | FTL Technology Systems Private Limited (FY17)
Total Income (FY17) – Less than Rs.0.1 million. Since this is an early stage startup, it is not generating significant revenue.
|
| 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 have any interest in the entity being acquired. |
| c. | industry to which the entity being acquired belongs | Its platform enables its users to compare products and services across partner eCommerce merchants for completing the transaction. |
| 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 the investment is to provide ICICI Bank customers an engagement platform and price discovery engine. |
| 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 February 2018. |
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 |
| g. | Nature of consideration - whether cash consideration or share swap and details of the same | Cash consideration of Rs.1.0 million. |
| h. | Cost of acquisition or the price at which the shares are acquired | Cash consideration of Rs.1.0 million for 9.90% stake of FTL Technology Systems Private Limited.
Details of the transaction: Purchase of 100 equity shares of Rs.10 each at a share premium of Rs.864.89 each, and 1,043 CCCPS of Rs.10 each at a share premium of Rs.864.89 each.
|
| i. | Percentage of shareholding / control acquired and / or number of shares acquired | ICICI Bank will hold 9.90% stake in FTL Technology Systems Private Limited through acquisition of 100 equity shares and 1,043 CCCPS on as-if-converted basis. |
| 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) | FTL Technology Systems Private Limited
Date of incorporation: May 28, 2014
Products/Line of business: FTL offers a white labelled 'compare & buy' eCommerce aggregator platform to BFSI enterprises, which allows users to compare products and services across partner eCommerce merchants for completing the transaction.
History of last 3 years income - Less than Rs.0.1 million. Since this is an early stage startup, it is not generating significant revenue.
Country of presence: India.
|
You are requested to please take the above changes 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: January 29, 2018 |
By: | /s/ P. Sanker | ||
| Name : | P. Sanker | |||
| Title : | Senior General Manager (Legal) & Company Secretary | |||