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ICICI Securities raises Rs 35.15 bn from IPO; receives 88% subscription

Shares of the company will list on the exchanges tomorrow, BSE and NSE said in separate circulars

Press Trust of India  |  New Delhi 

ICICI Securities
Photo: Kamlesh Pednekar

today said it has raised 35.15 billio9n at the issue price of 520 per share from its recently concluded initial public offering.

The public issue closed on March 26 after three days of bidding in a price band of 519-520.

A total of 67,593,245 equity shares have been allotted at an offer price price of Rs 520 apiece, the upper end of the price band, aggregating to Rs 3,514.85 crore, said.

Shares of the company will list on the exchanges tomorrow, BSE and NSE said in separate circulars.

Earlier, had reduced the size of its initial public offer (IPO) to little over Rs 35 billion after the sale elicited a sluggish response, especially from high networth individuals.

The share sale of the leading brokerage firm -- which was to raise up to Rs 40.16 billion -- received around 88 per cent subscription, including the anchor portion, on the last day of the bidding.

DSP Merrill Lynch, ICICI Securities, Citigroup Global India, CLSA India, Edelweiss Financial Services, and managed the issue.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, April 03 2018. 20:42 IST
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