Current Affairs - Banking - Discussion

ICICI Bank announced that it will buy 1.49 crore shares to acquire 9.9% stake in the non-banking finance company (NBFC) Kisan Finance for Rs 17.82 crore.The acquisition is expected to be over by the end of March 2019.Incorporated in December 2017, Kisan Rural Finance Ltd (Kisan Finance) had registered a net loss of Rs 48 lakh in 2017-18 at a revenue of Rs 4 lakh. iii. The deal will involve the acquisition of roughly 1.49 crore equity shares with a face value of Rs 10 per share at a premium of Rs 2 per share.