ICICI Bank gains on planning to buy stakes in two fintech companies for Rs 6.03 crore
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ICICI Bank is currently trading at Rs. 661.45, up by 2.95 points or 0.45% from its previous closing of Rs. 658.50 on the BSE.
The scrip opened at Rs. 655.35 and has touched a high and low of Rs. 664.75 and Rs. 649.40 respectively. So far 292278 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 679.30 on 16-Feb-2021 and a 52 week low of Rs. 269.00 on 24-Mar-2020.
Last one week high and low of the scrip stood at Rs. 679.30 and Rs. 624.20 respectively. The current market cap of the company is Rs. 455987.93 crore.
The Institutions and Non-Institutions holding in the company stood at 90.34% and 9.66% respectively.
ICICI Bank is planning to buy stakes in two fintech companies -- CityCash and Thillais Analytical Solutions -- for a total cash consideration of Rs 6.03 crore. As per two separate deals entered by the bank, the bank will buy 5.40 percent stake in CityCash for Rs 4.93 crore (Rs 49.34 million) and 9.65 percent in Thillais Analytical Solutions for Rs 1.1 crore (Rs 11 million).
Both the deals are expected to be completed by the end of March 2021. Post investment, the bank will hold 5.40 percent shareholding in Tap Smart Data Information Services (CityCash) through acquisition of 5,492 equity shares. The 9.65 percent stake in Thillais Analytical Solutions will be through acquisition of 10 equity shares and 100 CCPS (Compulsory Convertible Preference Shares).
ICICI Bank is a leading private sector bank in India.
