Icici bank approved the amalgamation of bank of rajasthan with it for a share exchange ratio of one share of icici bank for every 472 shares of bank of rajasthan the board of directors of. Icici ± bank of rajasthan merger submitted to: prof s bidwai ibs ± mumbai submitted by: mohd abutalib 09bs0001290 bank of rajasthan, one of the oldest private sector banks in the country, on may 18 announced that it would merge with the largest private sector bank, icici bank. The bank received a notice from sebi for delayed disclosure of its deal to acquire bank of rajasthan mumbai: icici bank has warned domestic and international shareholders that the bank faces. Bank of rajasthan icici bank merger latest breaking news, pictures, videos, and special reports from the economic times bank of rajasthan icici bank merger blogs, comments and archive news on economictimescom.
Icici bank board gives in-principle approval for merger of bank of rajasthan icici bank board gives in-principle approval for merger of bank of rajasthan may 18, 2010 12:41 pm eastern daylight time. New delhi: in a major acquisition deal, icici bank on sunday announced merger bank of rajasthan with it through share-swap in a non-cash deal that values the bor at about rs 3,000 crore after the. Icici bank-bank of rajasthan merger is the seventh voluntary merger in indian banking sector, u/s 44a of the banking regulation act, 1949 this is the icici bank's fourth acquisition after sangli bank the background of the merger can be traced to the regulatory intervention of sebi and rbi on. Icici bank's move to amalgamate bank of rajasthan (bor) with itself at a 1:472 ratio indicates the bank would pay a premium of 894 per cent to bank of rajasthan's closing stock price on tuesday the proposed swap ratio values bor at rs 3,040 crore, translating into a per branch value of only rs 6.
Merger of icici and bor advantage for icici and boricici bank will gain marginally from the merger as bank of rajasthan has a reasonable penetration in its. Free online library: icici bank to take over bank of rajasthan by mail today (new delhi, india) news, opinion and commentary general interest bank mergers banking industry banks (finance. Analysis of icici bank and bank of rajasthan merger- reasons for the deal - the promoter group of the bank of rajasthan (bor) had been under immense pressure from regulatory authorities to restructure the bank due to a variety of problems from 2009 onwards. Merger is nothing but amalgamation of two groups into single entity merger is a process of combining two business entities under the common ownership usually merger occurs when an independent bank loses its charter and becomes a part of an existing bank with.
About bor and merger private sector lender bank of rajasthan on 18 may 2010 agreed to merge with icici bank, india's second largest private sector lender bank of rajasthan has a market value of $296 million the acquisition of bank of rajasthan by icici bank is the first consolidation of country's crowded banking sector since 2008icici bank. So, in this article, we are providing you with a list of some important banks merger which has taken in the past - bank of rajasthan merger with icici bank. We study the merger between icici bank and bank of rajasthan (bor) which was announced on may 18, 2010, approved by the board of directors of icici on may 24, 2010 and approved by the reserve bank of. The board of icici bank, which met later in the day, also agreed to give in-principle approval for merger of bank of rajasthan with it subject to due diligence and valuation by an independent.
Specifically, moody's notes that icici bank's proposal to merge with the relatively small private-sector bank of rajasthan will have either a limited or no effect on its financial fundamentals instead, moody's notes that the proposed merger will add significant franchise value to icici bank through bor's existing network of 463 branches. In this paper, we consider a case of icici bank ltd, the largest private sector bank in india, which has acquired bank of rajasthan ltd (bor) therefore, the aim of this article is to study the growth of icici bank ltd through mergers, acquisitions, and amalgamation. List of important mergers of banks in india bank of rajasthan 2010 hdfc bank centurion bank of punjab icici bank bank of madura 2001. In august 2010, the amalgamation of bank of rajasthan ltd with icici bank ltd came into effect the merger substantially enhanced the combined branch network to over 2500 across the country you might also want to read. Bank of rajasthan's scrip shot up 20% hitting the upper circuit ahead of a board meeting late tuesday evening to consider a merger of the bank with the country's largest private sector lender icici bank.
It's official now the two banks - the bank of rajasthan ltd and icici bank ltd, the two private sector banks, one old generation and the other new generation bank are set to marry soon while the board of both banks have approved the in principle merger, it may take couple of months to get. Employees perception about merger management essay bank of rajasthan ltd and icici bank ltd in the scheme of this merger by icici bank that its customer. In october 2001, the boards of directors of icici and icici bank approved the merger of icici and two of its wholly-owned retail finance subsidiaries, icici personal financial services limited.
Icici bank-bank of rajasthan merger is the seventh voluntary merger in indian banking sector, u/s 44a of the banking regulation act, 1949 this is the icici bank's fourth acquisition after. Reserve bank of india approves bank of rajasthan merger with icici bank - click amalgamation for details. Icici -bank of rajasthan merger documents similar to bor and icici bank ltd-a merger case study bank merger and acquisition uploaded by jayesh warhadkar.
Merger of the bank of rajasthan limited with icici bank the bank of rajasthan limited (bank of rajasthan), a banking company incorporated within the meaning of companies act, 1956 and licensed by reserve bank of india (rbi) under the banking regulation act, 1949 was amalgamated with icici bank limited (icici bank/the bank) with effect from close of business on august 12, 2010 in terms of the. Merger of the bank of rajasthan limited with icici bank the bank of rajasthan limited (bank of rajasthan), a banking company incorporated within the meaning of companies act, 1956 and licensed by reserve bank of india (rbi) under the banking regulation act, 1949 was amalgamated with icici bank limited (icici bank/the bank. Initiated from the merger case of the bank of rajasthan ltd and icici bank ltd the main objective of their study was to test the motives of banks for mergers and acquisition with special.