ICICI Securities to acquire 16.12% stake Asknbid Innovation Factory for Rs5.56cr

The company will acquire a stake in the form of 3,055 equity shares and 26,068 CCPS.

Oct 18, 2021 10:10 IST India Infoline News Service

ICICI Securities
ICICI Securities Limited plans to acquire a 16.12% stake in Asknbid Innovation Factory India Private Limited in the form of 3,055 equity shares and 26,068 Compulsorily Convertible Preference shares (CCPSs) at a cash consideration of ~Rs5.56cr.

The acquisition of shares is expected to be completed by following necessary procedural formalities on or before November 30, 2021.

“This transaction doesn’t constitute a related party transaction. None of the Promoter/Promoter group/group companies of ICICI Securities have any interest in the entity being acquired. ICICI Securities in the normal course of business might in future have business dealings with Asknbid Innovation Factory India Private Limited at arm’s length,” the company said in a filing on Friday.

At around 10.40 am, ICICI Securities Ltd was trading at Rs883.10 per piece up by Rs6 or 0.68% from its previous closing of Rs877.10 per piece on the BSE.

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