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ICICI Securities IPO seeks up to $620 million, adding to a busy March

Reuters  |  MUMBAI 

By Devidutta TripathyMUMBAI (Reuters) - Indian brokerage ICICI Securities Ltd will launch an initial public offering next week in a sale that will raise its parent as much as 40.17 billion rupees ($620 million), adding to a busy month for first-time share sales in the country.ICICI Securities, a unit of third-biggest Indian lender ICICI Bank, on Wednesday set a price range of 519-520 rupees per share for the IPO that will take subscriptions from March 22-26. ICICI Bank is selling about 77.2 million shares, or a 24 percent stake, in the arm that also offers investment banking services. The IPO ...

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First Published: Wed, March 14 2018. 22:33 IST