ICICI gets bids for Rs 24,000cr worth shares
Tuesday, June 19, 2007 12:19 IST
MUMBAI: ICICI Bank, the country's biggest private lender, on Tuesday received bids for over 27 crore shares, nearly three times the shares on offer in its follow-on public issue, generating a demand of Rs 23,975 crore.
The issue was over-subscribed 2.74 times and received a majority of bids within a price range of Rs 885-910. More than 1.7 lakh bids were at the cut-off price, data available on the National Stock Exchange show.
Shares of ICICI Bank closed at Rs 945.15, up nearly 3 per cent on NSE.
Read latest news at DNA
The FPO is part of the Bank's plan to mop up Rs 20,125 crore from domestic and international markets, including a green shoe option of 15 per cent. Of this, the Bank planned to raised Rs 8,750 crore from the domestic market, with a green shoe option to retain an additional over Rs 1,300 crore.
The bank had earlier fixed the price band for the issue at Rs 885-950 a share, but retail investors were given a discount of Rs 50.
Goldman Sachs (India) Securities, DSP Merrill Lynch, Enam Financial Consultants and JM Financial Consultants are the book leading managers to the issue, which closes on June 22.
ICICI Bank has said five per cent of the issue (Rs 437.5 crore) would be reserved for existing investors holding shares worth Rs 1 lakh as on June 13, the record date for the issue.
Tuesday, June 19, 2007 12:19 IST
MUMBAI: ICICI Bank, the country's biggest private lender, on Tuesday received bids for over 27 crore shares, nearly three times the shares on offer in its follow-on public issue, generating a demand of Rs 23,975 crore.
The issue was over-subscribed 2.74 times and received a majority of bids within a price range of Rs 885-910. More than 1.7 lakh bids were at the cut-off price, data available on the National Stock Exchange show.
Shares of ICICI Bank closed at Rs 945.15, up nearly 3 per cent on NSE.
Read latest news at DNA
The FPO is part of the Bank's plan to mop up Rs 20,125 crore from domestic and international markets, including a green shoe option of 15 per cent. Of this, the Bank planned to raised Rs 8,750 crore from the domestic market, with a green shoe option to retain an additional over Rs 1,300 crore.
The bank had earlier fixed the price band for the issue at Rs 885-950 a share, but retail investors were given a discount of Rs 50.
Goldman Sachs (India) Securities, DSP Merrill Lynch, Enam Financial Consultants and JM Financial Consultants are the book leading managers to the issue, which closes on June 22.
ICICI Bank has said five per cent of the issue (Rs 437.5 crore) would be reserved for existing investors holding shares worth Rs 1 lakh as on June 13, the record date for the issue.
