ICICI Bank Limited to invest in CityCash

ICICI Bank Limited has entered into an agreement dated February 16, 2021 in relation to an investment in Tap Smart Data Information Services Private Limited ('CityCash'). ICICI Bank Limited and its subsidiaries in the normal course of business would have business dealings with Tap Smart Data Information Services Private Limited at an arm's length.

CityCash is a fintech company which provides payments and ticketing system technology to State Transport Corporations.

Post investment, ICICI Bank Limited will hold 5.40% shareholding (on a fully diluted basis) in Tap Smart Data Information Services Private Limited through acquisition of 5,492 equity shares.

Shares of ICICI BANK LTD. was last trading in BSE at Rs.658.5 as compared to the previous close of Rs. 674. The total number of shares traded during the day was 792731 in over 16626 trades.

The stock hit an intraday high of Rs. 679.3 and intraday low of 649.3. The net turnover during the day was Rs. 523843417.

Source : Equity Bulls

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