ICICI Bank has entered into an agreement on 16 February 2021 in relation to an investment of Rs 1.1 crore in the equity shares and compulsorily convertible preference shares (CCPS) of Thillais Analytical Solutions.
Thillais Analytical Solutions is a fintech startup which operates a neo-banking platform 'Vanghee' which facilitates connected banking solutions for corporates and MSMEs and helps banks deepen their customer relationships.
Post investment, ICICI Bank will hold 9.65% shareholding (on a fully diluted basis) in Thillais Analytical Solutions through acquisition of 10 equity shares and 100 CCPS.
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