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Home > Business > PTI > Report

ICICI Bank issue to open on April 2

March 26, 2004 12:22 IST
Last Updated: March 26, 2004 19:35 IST

ICICI Bank Ltd on Friday said its equity issue aggregating upto Rs 3,500 crore (Rs 35 billion), including a green shoe option, will open on April 2 and the entity plans to kick off roadshows in major domestic cities and international markets from next week.

The public issue, which would be through a 100 per cent book building route, has a green shoe option of Rs 450 crore (Rs 4.50 billion) and the bank has fixed a price band of Rs 255 to Rs 295 per equity share, ICICI Bank said in a release in Mumbai.

The issue will close on April 7, it said.

ICICI Bank sources said the country's largest private sector bank would kick off roadshows for the issue in the four metros apart from other major cities in the country.

On the international front, it was expected to meet investors in the United States, Europe, London, Singapore and Hong Kong, they said.

As per the Red Herring Prospectus, retail investors have the option of making a part payment of their respective bid amount at the time of making the application.

The bank had planned to reserve 10 per cent of the issue size for its existing retail investors. However, the Securities and Exchange Board of India rejected it on the grounds that the proposal was not in keeping with the existing guidelines of a public offer.

The scrip of the bank on Bombay Stock Exchange rose by Rs 15 to end the day at Rs 284.65.

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