ICICI surges on successful bond issue

DALAL STREET SPIKES

The stock of ICICI Bank rose from Rs 894.20 to touch its 52-week high of Rs 977.50 before closing at Rs 965, up a shade less than 8 per cent from its previous close.

The volumes traded on the counter rose marginally, with 613,118 shares being traded. The stock rose following the bank's announcement of a successful launch of a bond offering worth $2 billion, which is the largest bond offering by a domestic bank.

The offering had an order book of over $8 billion with strong interest from investors. The US was the largest market for bond offering with about 58 per cent of the notes being sold, while Asia and Europe contributed 21 per cent each.