ICICI Bank launches QIP with floor price of Rs 351.36, eyes Rs 15,000 cr

The bank's Capital Adequacy Ratio (CAR) stood at 16 per cent as on June 30, 2020 with Tier I at 14.72 per cent. The asset quality profile of the bank improved during the reporting quarter

Private lender ICICI Bank on Monday launched its qualified institutional placement (QIP), setting the floor price at Rs 351.36 per share. 

The bank plans to raise up to Rs 15,000 crore to support business growth and create a buffer to absorb any shock from the economic disruption caused by the coronavirus pandemic. 

The stock of the lender closed at Rs 364.20, up 1.75 per cent on the BSE. Its board will meet on August 14 to decide the QIP issue price.

Last week, mortgage lender HDFC also set the floor price for its QIP to raise as much as Rs 14,000 crore. Earlier,