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Private sector lender ICICI Bank on Tuesday increased its authorised capital by Rs 775 crore to Rs 2,500 crore. “The authorised capital of the company shall be Rs 2,500 crore divided in to 1,000 crore equity shares of Rs 2 each, Rs 150,00,000 shares of Rs 100 each and 350 shares of Rs 100,00,000 crore each with rights privileges and conditions attached thereto...,” the company said in a regulatory filing. The company made amendments to its memorandum and articles of association to make the revision effective. Earlier, the authorised capital of ICICI Bank was Rs 1,775 crore.
Increase in authorised capital enables bank to raise funds or debt from the market. The amendments received shareholders’ approval through postal ballot on June 12.Shares of ICICI Bank closed at Rs 314.8 a unit, down by 0.3 per cent, at BSE today.