| ICICI Bank will first launch a domestic issue and follow it up with an ADS issue to raise Rs 7,000 crore with a provision to increase the amount by Rs 1,050 crore in the form of a greenshoe option. |
| The ADS issue is likely to be 27 per cent of the total capital to be raised by the bank. |
| Infosys had tapped the Japanese market through a POWL issue as part of its $1-billion sponsored ADS issue earlier this year in order to make its brand visible in one of the world's largest information technology services market. |
| Japan's Nomura International, which was one of the managers of the Infosys issue, is a joint global coordinator for the ICICI Bank issue. The other joint global coordinators are Merrill Lynch International and Morgan Stanley. |
| According to investment bankers, the demand for Indian papers is very high from top net worth retail investors as well as institutional investors in Japan. That was also demonstrated by the response Infosys' issue had received. Almost 40 per cent of the demand for the issue were from Japan, same as from the US. |
| The sources said ICICI Bank hoped to cash in on the growing awareness about India in Japan. Nomura has also recently raised a $1-billion India equity fund. |
| In its filings with the US Securities and Exchange Commission (SEC), ICICI Bank said the Japanese public offering would be made pursuant to a securities registration statement to be filed in accordance with the Securities and Exchange Law of Japan. The bank said the offer price would be identical in the US and Japan. |
| The exact proportion of equity shares offered in the Indian public and ADS offerings will be determined in consultation with underwriters before filing of the prospectus with the Registrar of Companies. |
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