Filed: 12 Nov 20, 6:12am



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 November, 2020

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



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Subject: Disclosure under Indian Listing Regulations



ICICI Bank Limited (the ‘Bank’) Report on Form 6-K


The Bank has made the below announcement to the Indian stock exchanges:


We wish to inform you that ICICI Bank Limited (the “Bank”) has entered into an agreement dated November 11, 2020 in relation to an investment in SLO Technologies Private Limited.


Pursuant to Regulation 30 read with para A of part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended read with SEBI circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015, we wish to provide the following disclosure:


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

SLO Technologies Private Limited (STPL)

Turnover (FY20): 29.0 million

PAT (FY 20): Loss of ₹ 7.54 million


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 “arm’s length”

This transaction does not constitute a related party transaction. ICICI Bank has no promoters.


ICICI Bank and its subsidiaries in the normal course of business would have business dealings with SLO Technologies Private Limited at an arm’s length. 

c.Industry to which the entity being acquired belongs

STPL is a company (Fintech). It provides forensic and risk monitoring platform to banks and financial institutions. 

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)Financial Investment

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.

Indicative time period for completion of the acquisition

End of December 2020

Nature of consideration - whether cash consideration or share swap and details of the same

Cash consideration of ₹ 23.3 million
h.Cost of acquisition or the price at which the shares are acquired

Cash consideration of ₹ 23.3 million for 7.0% shareholding of SLO Technologies Private Limited.



Percentage of shareholding / control acquired and / or number of shares acquired

Post investment, ICICI Bank will hold 7.0% shareholding in SLO Technologies Private Limited through acquisition of 20,883 equity shares and 9,500 CCCPS (Cumulative Compulsorily Convertible Preference Shares) on fully diluted 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)

Date of Incorporation: August 07, 2015


STPL is a “Data-driven Forensic Intelligence Platform” for financial institutions for due diligence, monitoring and recovery


History of last 3 years turnover:


FY20 – 29.0 million


FY19 – ₹12.0 million


FY18 – ₹1.1 million


Country of presence: India


You are requested to please take the above information on record.




ICICI Bank Limited

ICICI Bank Towers

Bandra-Kurla Complex

Mumbai 400 051, India.

Tel.: (91-22) 2653 1414

Fax: (91-22) 2653 1122


CIN.: L65190GJ1994PLC021012

Regd. Office: ICICI Bank Tower,

Near Chakli Circle,

Old Padra Road

Vadodara 390007. India





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:November 11, 2020 By:         /s/ Vivek Ranjan
    Name :Vivek Ranjan
    Title   :Chief Manager