Term lending institution ICICI Ltd will make its first public offering of ICICI Safety Bond this fiscal on June 11.
The bond is in the nature of unsecured redeemable debentures aggregating Rs 400 crore with a right to retain oversubscription up to the same amount. The issue will close on June 29, the financial institution said.
The institution would make this offer under the umbrella prospectus approved by Securities & Exchange Board of India for Rs 5,000 crore with the right to retain oversubscription of 100 per cent during fiscal 2001-02.
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The ICICI issue offers five options -- encash bond, regular income bond, money multiplier bond, children growth bond and pension bond.
Non-resident Indians and overseas corporate bodies are also eligible to invest in regular income bond, money multiplier bond, children growth bond and the pension bond on both repatriable and non-repatriable basis, but not in the encash bonds. Issue price for all the bonds are Rs 5,000.
The issue is rated 'LAAA' by Icra and 'AAA' by Crisil. The ratings signify highest safety and timely payment of principal and interest. All the bonds except the encash bonds are available in demat form.
Analysts expect the issue to be oversubscribed heavily. An analyst with an investment bank said, "ICICI has a good brand name which is enough for getting good subscription and history proves the point. We expect the issue to get good response this time as well."