ICICI Bank's follow-up public issue of Rs 5,000 crore is scheduled to open on December 01, 2005.As per a release issued by the bank to the BSE, the issue will close on December 06, 2005. Additionally, the bank has the green shoe option to allocate additional equity shares up to Rs 750 crore and operate a price stabilisation mechanism post listing with J M Morgan Stanley as the stabilising agent. The issue and the green shoe option aggregate to Rs 5750 crore.The public issue is part of the bank's consolidated capital raising exercise of Rs 7000 crore with a green shoe option of Rs 1050 crore. Of this total amount, Rs 2300 crore (including a green shoe option of Rs 300 crore) is proposed to be raised through an issue of American Depositary Shares (ADS) including a 'Public Offering Without Listing' (POWL) component in Japan.Further, the issue will be made through the book-building route, and the price band will be announced prior to the opening of the issue. Up to 5% of the issue, or Rs 250 crore, is reserved for existing retail shareholders of the bank.Retail bidders, including existing retail shareholders, will be allotted shares at a price 5% lower than the issue price determined through the book-building process. Retail bidders also have the option to pay Rs 150 per share on application with the balance payable on allotment.
