Private Equity

Other Private Equity/Strategic Investments

ICICI Bank to acquire 5% stake in NARCL for Rs.138-Cr

Mint  

ICICI Bank is to acquire 5% equity holding in National Asset Reconstruction Company Ltd (NARCL) for INR 137.5 crore in cash. The equity investment would be in tranches with the first tranche of INR 70.45 crore expected to be completed by March 31, 2022. NARCL has been set up by banks to aggregate and consolidate stressed assets for their subsequent resolution. Public sector banks (PSBs) will maintain about 51% ownership in NARCL.