ICICI Bank acquires minor stake in Midland Microfin

CICI Bank has entered into an agreement dated 30 September 2021 for investment in equity shares of Midland Microfin (non banking financial company - microfinance institution). The Bank has invested Rs 52.42 crore for acquiring 4,508,169 equity shares of face value Rs 10.0 per share at a share premium of Rs 106.27 per share. After the investment, ICICI Bank holds 9.9% of the equity share capital of Midland and 7.3% of the total share capital of Midland.