ICICI Bank to Acquire 9.49% Stake in Indian Financial Technology Platform

ICICI Bank (ICICIBANK, BOM:532174) has entered into an agreement to acquire a 9.49% stake in Verve Financial Services for 199.9 million Indian rupees ($2.7 million), according to a post-market hours filing on Monday.

Verve Financial operates the IndiaFilings platform, which provides a suite of services, like incorporation, trademark, tax filings, compliance, payroll management, and other business services to companies and entrepreneurs.

The transaction is expected to be completed by March-end.

Price (INR): ₹754.45, Change: ₹+5.55, Percent Change: +0.74%

Source: 08:42 Feb 22, 2022 MT Newswires


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