The large city of Shimoga in the Indian state of Karnataka functions as the district headquarters of Shimoga District. The city has been officially renamed shivamogga in 2014. It is located in the central part of Karnataka, on the banks of the Tunga River and serves as a gateway to the hilly regions of the Western Ghats. Shivamogga is popularly nicknamed as the "Gateway of Malnad." Shimoga experiences a tropical wet and dry climate and has a population of around 3.3 lakh. Shimoga is an important center for education with its wide variety of prestigious schools as well as colleges. Industries such as Malnad Alloys, Pearlite Industries, Vijay Technocrats, Perfect Alloys, Shanthala Sperocast, etc. are some foundries that manufacture castings which are supplied to other related industries in the country as well as exported. The city is surrounded by lush green paddy fields, chili plantations, areca nut and coconut groves which contributes to the economy of the city. An IT Park is being constructed at Shimoga, near the upcoming Shimoga airport.
The ICICI Bank is multinational financial services company. It has its corporate office in Mumbai, Maharashtra, India and its registered office in Vadodara, Gujarat, India. The ICICI Bank became the third largest bank in India concerning assets and fourth regarding market capitalization in the year 2017. The bank offers many products and financial services for its corporate and retail customers such as investment banking,non-life insurance, life insurance, venture capital and asset management. The ICICI bank had 4,850 branches and 14,404 ATMs in India alongside the global presence in 17 countries as of 2017. In the year 2000, the ICICIs shareholding in the ICICI bank was decreased to 46 percent in the public offering of shares in India; followed by an equity offering in the form of American Depositary Receipts listed on the NYSE. The Bank of Madura Limited was acquired by the ICICI Bank in an all-stock deal in 2001. The same year ICICI Bank became the first Indian bank to list on the New York Stock Exchange with its five million American depositary shares.