ICICI Bank Board Approves Proposal To Take Over I-Process Services As A Subsidiary

The board of directors at ICICI Bank Ltd. approved the proposal for making I-Process Services (India) Pvt., a completely owned subsidiary of the company.

Total cost of the proposed acquisition is estimated at approximately Rs 15.40 crore, which is subject to finalisation of pricing, in accordance with applicable law and other necessary approvals.

The company informed the exchanges in a filing that it currently holds a 19% stake in I-Process Services.