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India: ICICI Bank acquired 8.89% stake in rose exporter Karuturi Global

ICICI Bank said it has acquired an 8.89 percent stake in rose exporter Karuturi Global on August 18. "ICICI Bank Ltd (India) acquired 72,000,000 equity shares by way of invocation of pledge," ICICI Bank said in a release on BSE.

As per the filing, ICICI Bank had acquired 8.89 percent shares in Karuturi on August 17, 2015. At a closing price of Rs 3.43 of Karuturi, the deal is valued at over Rs 24.69 crore.

With over 292 hectares under greenhouse cultivation, the company annually produces around 555 million stems of quality cut roses for exports to high-value markets.

Click here to read the complete article at www.economictimes.indiatimes.com.
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