SINGAPORE: the ICICI Bank has entered into an agreement along with PTC India Limited and BSE Limited to acquire 9.9% stake in Pranurja Solutions Limited against a cash consideration of Indian Rupee 25.3 million..
Pranurja Solutions Limited has been incorporated on April 24, 2018 and has applied to Central Electricity Regulatory Commission (CERC) for grant of registration to establish and operate a power exchange.[the_ad id=”31605″]The proposed power exchange will offer the market participants a credible power trading platform.
ICICI Bank is India’s largest private sector bank with total consolidated assets of Rs. 11,242.81 billion (US$ 172.5 billion) at March 31, 2018 and profit after tax of Rs. 67.77 billion (US$ 1.0 billion) for the year ended March 31, 2018. ICICI Bank currently has a network of 4,874 Branches and 14,367 ATMs across India.