ICICI Bank divests stake in ICICI Merchant Services

ICICI Bank (BSE:ICICIBANK) has completed the sale of its entire 19% stake in ICICI Merchant Services Private Limited (IMSPL) to First Data Holding I (Netherlands) B.V. and Fiserv Merchant Solutions Private Limited, as per an agreement executed on March 29, 2025. This move follows the Board's approval communicated on December 13, 2024. In a related development, ICICI Bank's Stakeholders Relationship Committee approved the allotment of 56,008,117 equity shares (INR 2/- face value) including 51,723 equity shares towards fractional entitlements on March 26, 2025 as per a swap ratio agreed in the scheme for the delisting of ICICI Securities shares which will be listed on BSE and National Stock Exchange. ICICI Bank management met with investors from Vontobel Asset Management, T Rowe Price, Tara Capital, Julius Baer, Alchemy Capital, Temasek Holdings and Jefferies Group on March 26, 2025 to discuss the company strategy. The company has been in communications with New York Stock Exchange (NYSE), Japan Securities Dealers Association, SIX Swiss Exchange Ltd. and Singapore Stock Exchange regarding these matters.