Business Daily from THE HINDU group of publications
Sunday, Jun 17, 2007
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Business Daily from THE HINDU group of publications Sunday, Jun 17, 2007 ePaper |
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Private Banks Markets - Public Offer
Our Bureau
Mumbai June 16 ICICI Bank has fixed a price band of Rs 885-950 per share for its follow-on public issue of shares. At the lower end of the band, the issue price would be at a 2.5 per cent discount to the stock's closing price on Friday (Rs 908) on the BSE; at the higher end, it would be at a premium of 4.6 per cent to the last traded price. The book-building issue starts on June 19 and closes on June 22. Retail bidders, including existing retail shareholders, will be allotted shares at a discount of Rs 50 per share to the issue price, said a press release from the bank. Up to 5 per cent of the issue or Rs 437.5 crore is reserved for existing retail shareholders of the bank (shareholders holding up to 108 shares of the bank as on June 13, 2007). 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, said the release. The bank plans to raise Rs 10,062 crore (including a green shoe option of Rs 1,312.5 crore) from the domestic stock market. ICICI Bank will raise an equivalent amount through an issue of American Depository Shares.
Related Stories: More Stories on : Private Banks | Public Offer | ICICI Bank Ltd
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