FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934

For the month March, 2023

Commission File Number: 001-15002

ICICI Bank Limited
(Translation of registrant’s name into English)

ICICI Bank Towers,
Bandra-Kurla Complex
Mumbai, India 400 051
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.

Form 20-F X

Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes

No X

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes

No X

Indicate by check mark whether by furnishing the information
contained in this Form, the Registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934:

Yes

No X

If “Yes” is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g 3-2(b): Not Applicable

Table of Contents

Item

1.	Other news

OTHER NEWS

Subject: Disclosure under Indian Listing Regulations

IBN

ICICI Bank Limited (the ‘Bank’) Report on Form 6-K

The Bank has made the below announcement to the Indian stock exchanges:

We wish to inform you that ICICI Bank Limited (the “Bank”) has entered into an agreement dated March 31, 2023 in relation to an Investment in the equity shares and compulsorily convertible preference shares (“CCPS”) of Propertypistol Realty Private Limited (“PRPL” or “the Company”).

Pursuant to Regulation 30 read with para A of part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended read with SEBI circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015, we wish to provide the following disclosure:

Name of the target entity, details in brief such as size, turnover etc.

Propertypistol Realty Private Limited

Turnover (6M-2023 provisional): ₹ 880.7 million

PAT (6M-2023 provisional): ₹ 185.3 million

Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”

This transaction does not constitute a related party transaction. ICICI Bank has no promoters.

ICICI Bank and its subsidiaries in the normal course of business may have business dealings with Propertypistol Realty Private Limited at an arm’s length.

c.	Industry to which the entity being acquired belongs	Propertypistol Realty Private Limited operates ‘Propertypistol’ platform, which provides purchase, sale and value added services for residential properties. It leverages technology to aggregate properties and offer seamless transaction experience to homebuyers.
d.	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	Financial Investment
e.	Brief details of any governmental or regulatory approvals required for the acquisition	Since the acquisition of shareholding is below 10%, regulatory approval is not required.
f.	Indicative time period for completion of the acquisition	End of April 2023
g.	Nature of consideration - whether cash consideration or share swap and details of the same	Cash consideration of ~₹ 225.0 million
h.	Cost of acquisition or the price at which the shares are acquired	Cash consideration of ~ ₹ 225.0 million for 9.50% shareholding of Propertypistol Realty Private Limited
i.	Percentage of shareholding / control acquired and / or number of shares acquired	Post investment, ICICI Bank will hold 9.50% shareholding in Propertypistol Realty Private Limited through subscription of 100 equity shares and 1,28,674 CCPS (Compulsorily Convertible Preference Shares).

Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)

Propertypistol Realty Private Limited

Date of Incorporation: August 25, 2012

History of last 3 years turnover:

FY2020: ₹ 478.0 million

FY2021: ₹ 539.8 million

FY2022: ₹ 1031.1 million

Country of presence: India, UAE

We request you to kindly take the above information on record.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.

		For ICICI Bank Limited


Date:	March 31, 2023	By:	Vivek Ranjan
			Name :	Vivek Ranjan
			Title :	Chief Manager