ICICI Securities ends flat as OFS concludes

ICICI Securities settled almost flat at Rs 476 after the company's offer for sale (OFS) ended on Thursday.

Through the OFS, the company's promoter ICICI Bank offered over 71.21 lakh shares, constituting 2.21% paid-up share capital of the company. The floor price for the OFS was set at Rs 440 per share.

The OFS opened on Wednesday (9 December 2020) for non-retail investors, while both retail as well as non-retail investors were able to subscribe on Thursday (10 December 2020).

A total of 10% of the offer size, aggregating to over 7.12 lakh shares, was reserved for retail investors.

On Wednesday (T day), the OFS received subscription for 2.82 crore shares or 440.93% against the total non-retail offer size of 64.09 crore shares.

As on 15:30 IST on Thursday (T+1 day), the OFS received total bids for 7.70 lakh shares or 108.21% of the total retail offer size of 7.12 lakh shares. The non-retail segment received bids for 12.02 lakh shares or 168.89% of the total retail offer size of 7.12 lakh shares.

ICICI Securities offers a range of financial services including brokerage, financial product distribution and investment banking and focuses on both retail and institutional clients.

The company's consolidated net profit surged 105.9% to Rs 278.15 crore on a 62.7% jump in total income to Rs 680.46 crore in Q2 FY21 over Q2 FY20.

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