ICICI Lombard General Insurance Company increases stake in Fino PayTech Ltd

ICICI Lombard General Insurance Company Limited ("the Company") has an investment in the convertible warrants of Fino PayTech Limited. The Company has received intimation from Fino PayTech Limited on January 25, 2022, regarding conversion of 1,500,000 convertible warrants held by the Company into fully paid equity shares of face value Rs.10 per share of Fino PayTech Limited in the ratio of 1:1.

ICICI Bank Ltd (ICICI Bank) and ICICI Prudential Life Insurance Company Ltd (ICICI Life) hold stake in FPT. Post conversion of warrants of ICICI Lombard, the voting rights of ICICI Bank stands at 4.58% and ICICI Life stands at 8.77%. ICICI Lombard, ICICI Bank and subsidiaries and associates of ICICI Bank in the normal course of business may have business dealings with FPT at an arm's length.

FPT is primarily engaged in providing technology-based solutions and services related to financial inclusion.

Shares of ICICI Lombard General Insurance Company Limited was last trading in BSE at Rs. 1344.05 as compared to the previous close of Rs. 1330.75. The total number of shares traded during the day was 27694 in over 3427 trades.

The stock hit an intraday high of Rs. 1355.30 and intraday low of 1305.70. The net turnover during the day was Rs. 36868834.00.

Source : Equity Bulls

Keywords

ICICILombardGeneralInsuranceCompany INE765G01017 ICICIGI FinoPayTech StakeIncrease