ICICI Bank to buy 9.9 percent stake in BSE subsidiary INX for Rs.31 crore

Posted on:24 May 2019 15:13:04
ICICI Bank to buy 9.9 percent stake in BSE subsidiary INX for Rs.31 crore
24 May 2019 Current Affairs: ICICI Bank said it has entered into an agreement with the BSE to buy a stake in its subsidiary INX, located at GIFT City Gujarat. It will buy a 9.9% stake in India International Exchange (INX), a wholly-owned subsidiary of Bombay Stock Exchange (BSE) for nearly Rs.31 crore. The exchange posted a loss of Rs.31 crore in 2018-19 while its total revenue stood at RS.2.25 crore. INX is located at GIFT City in Gujarat.
The investment is subject to regulatory approvals and comes at a cash consideration of up to Rs.305 million in tranches to acquire up to 9.9% shareholding in INX. 
INX was incorporated in September 2016 and has posted a loss of Rs.31 crore in 2018-19. The total revenue was Rs.2.25 crore.
During 2017-18, INX had earned revenues of Rs.1.14 crore, while in 2016-17 the exchange earned Rs.3,225. The stock of ICICI Bank closed 4.48% higher at Rs.407.80 on the BSE.
ICICI Bank said it has entered into an agreement with the BSE to buy a stake in its subsidiary INX, located at GIFT City Gujarat. It will buy a 9.9% stake in India International Exchange (INX), a wholly-owned subsidiary of Bombay Stock Exchange (BSE) for nearly Rs.31 crore. The exchange posted a loss of Rs.31 crore in 2018-19 while its total revenue stood at RS.2.25 crore. INX is located at GIFT City in Gujarat.
The investment is subject to regulatory approvals and comes at a cash consideration of up to Rs.305 million in tranches to acquire up to 9.9% shareholding in INX. 
INX was incorporated in September 2016 and has posted a loss of Rs.31 crore in 2018-19. The total revenue was Rs.2.25 crore.
During 2017-18, INX had earned revenues of Rs.1.14 crore, while in 2016-17 the exchange earned Rs.3,225. The stock of ICICI Bank closed 4.48% higher at Rs.407.80 on the BSE.

Monthly Current Affairs

Fresherslive telegram Group

Card image cap

Current Affairs Section

Daily Current Affairs Quiz


Daily Current Affairs Videos Video Link
15th June 2019 Current Affairs Video
14th June 2019 Current Affairs Video
13th June 2019 Current Affairs Video
12th June 2019 Current Affairs Video
11th June 2019 Current Affairs Video
Watch more Current Affairs Videos





Subscribe to Current Affairs

Enter your email to get daily current affairs
SUBSCRIBE
Download Current Affairs PDF
Weekly pdf's
60 24
at 36 off

Monthly pdf's
250 89
at 161 off

Yearly pdf's
1200 499
at 701 off

YEARLY Current Affairs PDF

  • Yearly Current Affairs 2018 PDF


  • Currentt Affairs 2019 June

    17 JUNE
    NEWS
    16 JUNE
    NEWS
    15 JUNE
    NEWS
    14 JUNE
    NEWS

    Currentt Affairs 2019 May

    31 MAY
    NEWS
    30 MAY
    NEWS
    29 MAY
    NEWS
    28 MAY
    NEWS

    Currentt Affairs 2019 April

    30 APRIL
    NEWS
    29 APRIL
    NEWS
    28 APRIL
    NEWS
    27 APRIL
    NEWS




    Crack All UPSC,SSC,PSC,Railway,BANK Exams without Coaching - Buy PDF's @ Rs. 24/- only
    BUY NOW
    ×