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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

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Icici Securities Ipo

Press Trust of India  |  Mumbai 

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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.

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