ICICI Bank shareholding in Fino PayTech hiked to 7.4%

On Tuesday, ICICI Bank shares rose 0.46% to close at ₹790 apiece on NSE.Premium
On Tuesday, ICICI Bank shares rose 0.46% to close at ₹790 apiece on NSE.
 1 min read . Updated: 08 Feb 2022, 08:15 PM IST Livemint

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Private lender ICICI Bank has decided to convert 4,000,000 convertible warrants of Fino PayTech held by the Bank into equity and thereby increasing the shareholding in the company to 7.4%.

We wish to inform you that the Board of Directors of Fino has approved the conversion of convertible warrants held by ICICI Bank into fully paid equity shares on February 8, 2022, consequent to which ICICI Bank’s shareholding (based on voting rights) has increased to 7.4%, the lender said in a filing.

Earlier, ICICI Bank had a shareholding of 4.6% (based on voting rights) in Fino PayTech.

On Tuesday, ICICI Bank shares rose 0.46% to close at ₹790 apiece on NSE.

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Fino PayTech is primarily engaged in providing technology-based solutions and services related to financial inclusion

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