ICICI Bank FPO subscribed 1.29 times
The follow on public issue of ICICI Bank has been fully subscribed within hours of its opening.
By INDIATIMES NEWS NETWORK |
MUMBAI: The follow on public issue of ICICI Bank has been fully subscribed within hours of its opening. As per the NSE website, the issue was subscribed 1.29 times until 11AM. It received 12.72 crore bids against total issue size of 9.88 crore shares.
The bank has fixed the price band between Rs 885-950 per share of Rs 10 each through 100% book building process.
The domestic issue is for Rs 8,750 crore, with a greenshoe option of Rs 1,312.5 crore. Of the total domestic float, 5% will be reserved for existing retail shareholders, and they will get discount of Rs 50 to the issue price.
The issue is being made to meet the capital adequacy requirements and augment bank's capital to fund future requirements. The bank's CAR is currently at 11.69%. Post-issue it is seen at 15%.
Goldman Sachs (India) Securities, DSP Merrill Lynch, Enam Financial Consultants are the book running lead managers to the issue.
The bank has fixed the price band between Rs 885-950 per share of Rs 10 each through 100% book building process.
The domestic issue is for Rs 8,750 crore, with a greenshoe option of Rs 1,312.5 crore. Of the total domestic float, 5% will be reserved for existing retail shareholders, and they will get discount of Rs 50 to the issue price.
The issue is being made to meet the capital adequacy requirements and augment bank's capital to fund future requirements. The bank's CAR is currently at 11.69%. Post-issue it is seen at 15%.
Goldman Sachs (India) Securities, DSP Merrill Lynch, Enam Financial Consultants are the book running lead managers to the issue.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
