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 July, 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.

 

Other News

 

 

 

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 ordinary equity shares and compulsory convertible cumulative preference shares (CCCPS) which ICICI Bank Limited proposes to acquire in Arthashastra Fintech Private Limited (AFPL).

 

a. Name of the target entity, details in brief as size, turnover etc.

Arthashastra Fintech Private Limited (AFPL), 

Total Income (FY17): ₹ 3.2 million and PAT (FY2017): ₹ (17.5) 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.

 

c. industry to which the entity being acquired belongs AFPL is a technology company engaged in providing a deferred payment option for purchasing goods and services with third party merchants
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 digital lending.

 

 

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 

     

 

 

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 July 2018.
g. Nature of consideration - whether cash consideration or share swap and details of the same Cash consideration of ₹ 82.72 million.
h. Cost of acquisition or the price at which the shares are acquired

Cash consideration of ₹ 82.72 million to acquire 9.91% stake of Arthashastra Fintech Private Limited (AFPL). 

 

Details of the transaction: Total Purchase of 27,779 CCCPS and 100 equity shares of face value of ₹ 1.00 each at a share premium of ₹ 2,966.11 each. 

i. Percentage of shareholding / control acquired and / or number of shares acquired Post Investment, ICICI Bank will hold 9.91% equity stake in the entity on an 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)

Arthashastra Fintech Private Limited (AFPL)

 

Date of incorporation: December 01, 2015

 

AFPL is a technology company, engaged in providing a deferred payment option for purchasing goods and services with third party merchants.

 

History of last 3 years turnover:

 

FY17: ₹ 3.2 million

 

FY16: Nil

 

Country of presence: India 

 

 

  

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: July 24, 2018   By:

/s/ Vivek Ranjan

        Name : Mr. Vivek Ranjan
        Title   : Chief Manager