Bank of Rajasthan ICICI Merger

Can you tell me in detail about the merger of Bank of Rajasthan Ltd and Industrial Credit and Investment Corporation of India Bank - ICICI Bank?

[Shaleen]

The Bank of Rajasthan Ltd was a private sector bank of India which merged with ICICI Bank in 2010.

The Bank of Rajasthan (BOR) was acquired by the ICICI Bank in 2010 for Rs.30 billion. RBI was critical of BOR's promoters not reducing their holdings in the company. BOR has since been merged with ICICI Bank

ICICI Bank has entered into an agreement with Tayal family of BoR to effect the amalgamation with a share exchange ratio of 25 shares of ICICI Bank for 118 shares of Bank of Rajasthan.

This is based on an internal analysis of the strategic value of the proposed amalgamation, average market capitalization per branch of old private sector banks and relevant precedent transactions.

The proposed merger enhance ICICI Bank's branch network, already the largest among Indian private sector banks, and especially strengthen its presence in northern and western India.

ICICI Bank Customer Care Numbers

Andhra Pradesh: 7306667777
Assam: 9864667777
Bihar: 8102667777
Chattisgarh: 9098667777
Goa: 9021667777
Gujarat: 8000667777
Haryana: 9017667777
Himachal Pradesh: 9817667777
Jammu & Kashmir: 9018667777
Jharkhand: 8102667777
Karnataka: 8088667777
Kerala: 9020667777
Madhya Pradesh: 9098667777
Maharashtra: 9021667777
Orissa: 9692667777
Punjab: 7307667777
Rajasthan: 7877667777
TamilNadu: 7305667777
Telangana: 7306667777
Uttar Pradesh: 8081667777
Uttarakhand: 8081667777
West Bengal: 8101667777
Ahmedabad: 33667777 / 44455000
Bangalore: 33667777 / 44455000
Bhopal: 3366777
Bhubaneswar: 3366777
Chandigarh: 3366777 / 4445500
Chennai: 33667777 / 44455000
Dehradun: 3366777
Delhi: 33667777 / 44455000
Ernakulam: 3366777
Gurgaon: 3366777 / 4445500
Hyderabad : 33667777 / 44455000
Jaipur: 3366777 / 4445500
Kolkata: 33667777 / 44455000
Lucknow: 3366777 / 4445500
Mumbai: 33667777 / 44455000
Panaji: 3366777
Patna: 3366777
Raipur: 3366777
Ranchi: 3366777
Shimla: 3366777