ICICI Lombard ceases to subsidiary of ICICI Bank
ICICI Bank announced that ICICI Lombard General Insurance Company (ICICI Lombard) Board of Directors at the Meeting held on 08 September 2021 had allotted equity shares of ICICI Lombard to the eligible shareholders of Bharti AXA General Insurance Company (Bharti AXA) as per their proportionate shareholding on the Record Date i.e. 21 August 2020 pursuant to the Scheme of Arrangement amongst Bharti AXA and ICICI Lombard and their respective shareholders and creditors.Accordingly, with the Bank's shareholding reducing from 51.86% to 48.08%, ICICI Lombard has ceased to be a subsidiary of the Bank.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app