ICICI Bank Ltd (ICBK.BO)
28 Apr 2017
Latest Key Developments (Source: Significant Developments)
Gokaldas Exports Ltd
ICICI Bank Ltd:Says board has approved sale of 6.0 pct. out of ICICI Bank Ltd's shareholding in ICICI Prudential Life Insurance Company Ltd, comprising the sale of 4.0 pct. to Premji Invest & its affiliates and 2.0 pct. to Compassvale Investments Pte Ltd.Compassvale Investments Pte Ltd is an indirectly wholly-owned subsidiary of the Singapore-based investment company, Temasek.Says proposed transaction values the company at 325 bln Indian rupees.Says upon completion of transaction, ICICI Bank will hold about 68 pct. share of the company.Says Prudential Plc, ICICI Bank's joint venture partner, will maintain its current share of about 26 pct. Full Article
ICICI Bank Ltd:Approves appointment of M. K. Sharma as non-executive Chairman of Board for a period of five years, in place of K. V. Kamath who would shortly step down from the Board consequent to his nomination as first President of the New Development Bank being established by BRICS nations.Appointment is subject to the prior approval of Reserve Bank of India (RBI), other regulatory approvals and would be effective July 01 or the date of receipt of RBI approval, whichever is later. Full Article
* "Some erroneous media reports have appeared that ICICI Bank has acquired 1.09% stake in Karnataka Bank"