ICICI Lombard Basic Insurance coverage Firm will increase stake in Fino Petec Ltd.


ICICI Lombard General Insurance Company increases stake in Fino Petec Ltd.

ICICI Lombard Basic Insurance coverage Firm Restricted (“The Firm”) has an funding in convertible warrants of Fino Petec Restricted. The Firm has obtained intimation from Fino Petec Restricted on January 25, 2022 concerning conversion of 1,500,000 Convertible Warrants held by the Firm within the ratio 1:1 into absolutely paid-up fairness shares of face worth of Rs.10 per share of Fino Petec Ltd. .

ICICI Financial institution Restricted (ICICI Financial institution) and ICICI Prudential Life Insurance coverage Firm Restricted (ICICI Life) have stake in FPT. After the conversion of ICICI Lombard’s warrant, the voting rights of ICICI Financial institution are 4.58% and that of ICICI Life is 8.77%. ICICI Lombard, ICICI Financial institution and ICICI Financial institution’s subsidiaries and associates might conduct enterprise dealings at an arm’s size with FPT within the unusual course of enterprise.

FPT is primarily engaged in offering technology-based options and companies associated to monetary inclusion.

Shares of ICICI Lombard Basic Insurance coverage Firm Restricted final traded on BSE at Rs. 1344.05 as in comparison with the earlier shut of Rs. 1330.75. The overall variety of shares traded through the day stood at 27694 in over 3427 trades.

The inventory touched an intraday excessive. 1355.30 and intraday low 1305.70. Web turnover through the day was Rs. 36868834.00.

Supply: Fairness Bulls

key phrases


ICICI Lombard Basic Insurance coverage Firm
INE765G01017
icicigi
finopatec
enhance stake



Supply hyperlink