You are here: Home » Markets » IPOS » News
Business Standard

ICICI Securities' Rs 40-bn IPO opens Mar 22, fixes price band at Rs 519-520

The IPO will open for subscription on March 22 to raise an estimated Rs 40 billion

Icici Securities Ipo

Press Trust of India  |  Mumbai 

Photo: Shutterstock

The price band for ICICI Securities' initial public offer (IPO) has been fixed at Rs 519 to Rs 520 per equity share, ICICI Bank said on Wednesday.

The IPO will open for subscription on March 22 to raise an estimated Rs 40 billion.

ICICI Securities is a subsidiary of private sector lender ICICI Bank.

The offer will be open for subscription to public on Thursday, March 22, 2018 and would close on Monday, March 26, 2018, ICICI Bank said.

The anchor investor bid/offer period will be open for subscription on March 22, it said.

"The price band for the offer, as decided by ICICI Bank Limited (being the selling shareholder)...has been fixed on March 14, 2018 at Rs 519 to Rs 520 per equity share of ICICI Securities," it said.

The minimum bid lot for the offer has been fixed at 28 equity shares of ICICI Securities and in multiples of 28 equity shares of ICICI Securities thereafter.

The public issue comprises sale of 77,249,508 equity shares.

The filing further said that the offer includes a reservation of up to 3.8 million equity shares of ICICI Securities for purchase by ICICI Bank Shareholders -- the individuals and HUFs who are the public equity shareholders of ICICI Bank.

At the upper end of the price band, the IPO could fetch over Rs 40 billion.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, March 14 2018. 22:59 IST