ICICI Bank Limited has announced the completion of its previously approved sale of its entire 19% stake in ICICI Merchant Services Private Limited (IMSPL), effectively ending its association with the payments services company.
In a regulatory filing submitted on Thursday, the bank confirmed that it has concluded all necessary formalities as per the Share Purchase Agreement (SPA) signed with First Data Holding I (Netherlands) B.V., First Data (India) Pvt Ltd, and Fiserv Merchant Solutions Pvt Ltd (formerly IMSPL).
As a result, IMSPL ceases to be an associate company of ICICI Bank with effect from April 17, 2025.
This move is part of ICICI Bank’s strategic capital reallocation, following board approval in December 2024 to exit its minority holding in IMSPL. The SPA was formally executed on March 29, 2025 with the Fiserv group entities to facilitate the transaction.
The sale underscores the bank’s continued focus on streamlining its investment portfolio and optimizing strategic partnerships in the evolving digital payments ecosystem.
