ICICI Bank fixes price band at Rs 885-950
ICICI Bank, the country's largest private lender, today fixed the price band of its follow-on public offer at Rs 885 to Rs 950 a share to raise over Rs 10,000 crore from the domestic market.
The minimum bid size will be six equity shares for retail bidders and existing retail shareholders. Bids should be in multiples of six equity shares for all bidders, ICICI Bank said in a release.
The lower end of the price band is at a discount of 2.5 per cent to yesterday's closing price of the Bank of Rs 908 on the Bombay Stock Exchange. The upper end of Rs 950, however, is at a premium of 4.6 per cent of yesterday's closing price.
The Bank is coming out with a public offer of Rs 8,750 crore in domestic markets, out of which five per cent would be reserved for existing shareholders holding shares worth Rs one lakh as on today, which is the record date for the issue.
ICICI Bank plans to mop up a total of Rs 20,125 crore from domestic and international markets, including a green shoe option of 15 per cent, according to information filed with market regulator Securities and Exchange Board of India.
http://www.financialexpress.com/latest_full_story.php?content_id=167344
ICICI Bank, the country's largest private lender, today fixed the price band of its follow-on public offer at Rs 885 to Rs 950 a share to raise over Rs 10,000 crore from the domestic market.
The minimum bid size will be six equity shares for retail bidders and existing retail shareholders. Bids should be in multiples of six equity shares for all bidders, ICICI Bank said in a release.
The lower end of the price band is at a discount of 2.5 per cent to yesterday's closing price of the Bank of Rs 908 on the Bombay Stock Exchange. The upper end of Rs 950, however, is at a premium of 4.6 per cent of yesterday's closing price.
The Bank is coming out with a public offer of Rs 8,750 crore in domestic markets, out of which five per cent would be reserved for existing shareholders holding shares worth Rs one lakh as on today, which is the record date for the issue.
ICICI Bank plans to mop up a total of Rs 20,125 crore from domestic and international markets, including a green shoe option of 15 per cent, according to information filed with market regulator Securities and Exchange Board of India.
http://www.financialexpress.com/latest_full_story.php?content_id=167344
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