Don’t miss the latest developments in business and finance.

ICICI Bank advances as unit files draft papers for IPO

Image
Capital Market
Last Updated : Jan 19 2018 | 3:04 PM IST

ICICI Bank was up 2.04% to Rs 309.65 at 12:21 IST on BSE after the bank said its subsidiary ICICI Securities has filed a draft red herring prospectus with Sebi for an initial public offering of shares.

The announcement was made after market hours on Friday, 15 December 2017.

Meanwhile, the S&P BSE Sensex was up 283.67 points or 0.85% at 33,746.64.

On the BSE, 66.86 lakh shares were traded on the counter so far as against the average daily volumes of 11.56 lakh shares in the past one quarter. The stock had hit a high of Rs 309.60 and a low of Rs 287.10 so far during the day. The stock had hit a 52-week high of Rs 332.30 on 17 November 2017 and a 52-week low of Rs 224.45 on 27 December 2016.

The large-cap bank has equity capital of Rs 1284.30 crore. Face value per share is Rs 2.

ICICI Bank's subsidiary company, ICICI Securities has filed a draft red herring prospectus with Securities and Exchange Board of India (Sebi) for a public offer of up to 6.44 crore equity shares of face value of Rs 5 each of ICICI Securities, representing approximately 20% of its equity share capital as on date, for cash through an offer for sale (OFS) of up to 6.44 crore equity shares by ICICI Bank.

The offer includes a proposed reservation of up to 32.21 lakh equity shares (up to 5% of the offer) for individual and Hindu Undivided Family (HUF) shareholders of ICICI Bank.

Separately, Morgan Stanley France SAS sold 80 lakh shares of ICICI Bank to Societe Generale at Rs 306.75 apiece in a block deal on the BSE on Friday, 15 December 2017.

More From This Section

ICICI Bank's net profit fell 33.7% to Rs 2058.19 crore on 17.6% decline in total income to Rs 18763.29 crore in Q2 September 2017 over Q2 September 2016.

ICICI Bank is one of the leading private sector banks in India.

Powered by Capital Market - Live News

Also Read

First Published: Dec 18 2017 | 12:17 PM IST

Next Story