Sports GK Questions and Answers 2024 (Latest Updated)

Awards & Honours GK Questions 2024 (Latest Updated)

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

ICICI Bank to buy 9.9 percent

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.

Advertisement
Article and Schedule Quiz Start Test!
DOWNLOAD CURRENT AFFAIRS PDF FROM APP

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.

Random GK Questions

Assam Direct Recruitment Test Series