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In August 2020, ICICI Bank has announced the acquisition of a further stake in India International Exchange (India INX). Post the acquisition, ICICI Bank's stake in India INX will increase to how much per cent?

In August 2020, ICICI Bank has announced the acquisition of a further stake in India International Exchange (India INX). Post the acquisition, ICICI Bank's stake in India INX will increase to how much per cent? Correct Answer 9.9

The correct answer is 9.9%.

  • ICICI Bank has announced the acquisition of a further stake in India International Exchange (India INX) located at GIFT City in Gandhinagar.
  • The lender acquired 4.46 cr shares at Re 1 per share for a total consideration of Rs 4.46 crores.
  • Post the acquisition, ICICI Bank's stake in India INX will increase to 9.9%. 
  • The indicative time period for completion of the acquisition is 31 August 2020.

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