ICICI Bank said that the bank's board has approved raising of funds for an amount aggregating up to Rs 15000 crore, in one or more tranches through various modes.
The announcement was made after market hours yesterday, 8 July 2020. Shares of ICICI Bank settled 1.81% lower at Rs 368.90 yesterday.
ICICI Bank said that the bank's board has approved raising of funds for an amount aggregating up to Rs 15000 crore, in one or more tranches by way of issuance of Securities, through one or more permissible mode(s) including but not limited to a private placement, preferential issue, qualified institutions placement, follow-on public offering or a combination thereof.
The private lender's net profit rose 26.04% to Rs 1,221.36 crore on 12.09% rise in total income to Rs 23,443.66 crore in Q4 March 2020 over Q4 March 2019.
ICICI Bank is one of India's leading private banks having a banking network of 5,324 branches and 15,688 ATMs as on 31 March 2020.
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