Current Affairs

ICICI Bank agrees to buy 9.9% stake in BSE Subsidiary INX

ICICI Bank said it has entered into an agreement with the Bombay Stock Exchange (BSE) to buy a stake in its subsidiary INX, located at GIFT City Gujarat.

Details:

  • ICICI Bank will buy a 9.9% stake in India International Exchange (INX), a wholly-owned subsidiary of Bombay Stock Exchange (BSE) for nearly Rs 31 crore.
  • The exchange posted a loss of Rs 31 crore in 2018-19 while its total revenue stood at Rs 2.25 crore.
  • INX is located at GIFT City in Gujarat.
  • The investment is subject to regulatory approvals and comes at a cash consideration of up to Rs 305 million in tranches to acquire up to 9.9% shareholding in INX.

Question:

Q. Which bank has entered into an agreement with the Bombay Stock Exchange (BSE) to buy a stake in its subsidiary INX, located at GIFT City Gujarat?
a. HDFC Bank
b. ICICI Bank
c. State Bank of India (SBI)
d. Kotak Mahindra Bank
ICICI Bank agrees to buy 9.9% stake in BSE Subsidiary INX ICICI Bank agrees to buy 9.9% stake in BSE Subsidiary INX Reviewed by Neha on May 25, 2019 Rating: 5

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