The leading insurer would allot shares to 64 anchor investors at Rs 661 apiece -- upper end of the IPO price band.
The IPO Committee of the company's board today finalised allocation of 2.458 crore shares to anchor investors. At the price of Rs 661 per scrip, the total proceeds would be to the tune of Rs 1,625 crore, according to a filing to the stock exchanges.
The insurer is looking to raise about Rs 5,700 crore at the higher end of the price band which is fixed between Rs 651-661 per share.
For ICICI Bank group, this is the second public offer this fiscal. Its life insurance arm ICICI Prudential had raised Rs 6,000 crore through an IPO.
Two state-run general insurers - General Insurance Corp of India and New India Assurance Company - as also two life insurance firms (SBI Life and HDFC Standard Life) have also lined up IPO plans.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)