ICICI Bank Exits IMSPL with Full Stake Sale to Fiserv Subsidiaries

22 Apr 2025 , 11:43 AM

ICICI Bank Ltd has officially exited its 19% stake in ICICI Merchant Services Private Ltd (IMSPL), completing the sale to First Data Holding I (Netherlands) BV and First Data (India) Pvt Ltd, both subsidiaries of global fintech major Fiserv Inc. With this transaction completed, IMSPL is no longer classified as an associate company of ICICI Bank.

The sale aligns with ICICI Bank’s strategic focus on strengthening its core banking operations and optimising its investment portfolio. The initial approval for the transaction was granted by ICICI Bank’s Board of Directors in December 2024.

The parties entered into a Share Purchase Agreement (SPA) on March 29, 2025, and the deal became effective on April 17, 2025, following the completion of all regulatory and procedural formalities.

Post-acquisition, IMSPL has been renamed to Fiserv Merchant Solutions Private Ltd, indicating full operational and managerial control by Fiserv’s entities. The transaction is expected to bring long-term financial and operational benefits to ICICI Bank, although the bank has not disclosed the monetary value of the deal.

ICICI Bank made the announcement in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, ensuring transparency and regulatory adherence.

The disclosure has also been shared with international stock exchanges, including the New York Stock Exchange (NYSE), Singapore Stock Exchange, Japan Securities Dealers Association, and the SIX Swiss Exchange Ltd, underscoring its global significance.