No hurry for IPOs of ICICI's subsidiaries: Kochhar

The country's top private sector financial institution, ICICI Bank, has said it is no hurry to bring out IPOs of its subsidiaries, as such issues are aimed at establishing a price benchmark for them and not raising immediate capital.

"Over a period of time, we should monetise some amount of investment that we have made (in our subsidiaries). So, some time we should look at some IPO or something like that so that we establish a price benchmark for our subsidiaries," ICICI Bank's CEO and MD Chanda Kochhar told PTI in an interview.

Asked if she expects the economy and market conditions to have recovered sufficiently to make any IPO conceivable this year, Kochhar, however, said, "Not currently, because we would not want to do anything when the value is not correct."

"We make that only when we get the right value otherwise we don't have to hurry at all," she said.

"We are not in requirement of raising capital. We have sufficient, not only to fund the growth of the bank but to fund the growth of the all the subsidiaries as well.