I am making project report on the topic ICICI Bank Limited want details about merger. Will you tell is Bank of Rajasthan Acquired By ICICI also provide list of Acquisitions of ICICI?

ICICI Bank Limited is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra with its registered office in Vadodara, Gujarat.

Bank of Rajasthan (BoR) is set to merge with ICICI Bank, the country's largest private sector lender. Under the deal, ICICI Bank would give 25 shares for 118 shares (1:4.72) of BoR.

The proposal was approved in-principle by the boards of the two banks


RBI Press release







List of Acquisitions of ICICI:

1996: ICICI Ltd. A diversified financial institution with headquarters in Mumbai

1997: ITC Classic Finance. incorporated in 1986, ITC Classic was a non-bank financial firm that engaged in hire, purchase, and leasing operations. At the time of being acquired, ITC Classic had eight offices, 26 outlets, and 700 brokers.

1997: SCICI (Shipping Credit and Investment Corporation of India)

1998: Anagram(ENAGRAM) Finance. Anagram had built up a network of some 50 branches in Gujarat, Rajasthan, and Maharashtra that were primarily engaged in retail financing of cars and trucks. It also had some 250,000 depositors.

2001: Bank of Madurai

2002: The Darjeeling and Shimla branches of Grindlays Bank

2005: Investitsionno-Kreditny Bank (IKB), a Russian bank
2007: Sangli Bank. Sangli Bank was a private sector unlisted bank, founded in 1916, and 30% owned by the Bahte family. Its headquarters were in Sangli in Maharashtra, and it had 198 branches.

2010: The Bank of Rajasthan (BOR) was acquired by the ICICI Bank in 2010 for ₹30 billion (US$430 million). RBI was critical of BOR's promoters not reducing their holdings in the company. BOR has since been merged with ICICI Bank

Contact:

ICICI Bank Limited

Registered Office:
Landmark,
Race Course Circle,
Vadodara 390007

Corporate Office:
ICICI Bank Towers,
Bandra-Kurla Complex,
Mumbai 400051