“Private sector lender ICICI Bank has acquired a 9.9 per cent stake in fintech firm Arthashastra Fintech Private Limited for a cash consideration of ₹8.27 crore,” reported Hindu Business Line.

“Private sector lender ICICI Bank has acquired a 9.9 percent stake in fintech firm Arthashastra Fintech Private Limited. The acquisition was for a cash consideration of Rs8.27 crore. Arthashastra Fintech provides a deferred payment option to procure goods and services from third-party merchants. The company reported a turnover of Rs32 lakh and a loss of Rs1.75 crore in 2016-2017. ICICI Bank will buy 27,779 convertible cumulative preference shares and 100 equity shares of face value Rs1 each at a share premium of Rs2,966.11 per share,” reported Marketscreener.

Samvad Partners advised ICICI Bank Limited led by partner Vineetha MG.

SNG & Partners assisted Arthasashtra Fintech Private Limited.

2018-06-01

Deal value: INR 8.3 Crores

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