ICICI Securities' Rs 40-billion IPO subscribed 36% on day two

The Rs 40-billion maiden offer (IPO) of ICICI Securities subscribed 36 per cent on Friday. The portion for institutional investors subscribed 54 per cent, while that of retail investors subscribed 39 per cent. 

The broking firm has allotted 33 million shares worth Rs 17.2 billion to anchor investors. Parent ICICI Bank is looking to divest a 24 per cent stake through the IPO. The offer will close on Monday.