ICICI Bank said that the meeting of the board of directors of the bank is scheduled on 8 July 2020 to consider the proposal of raising funds by issue of equity shares and/or other equity linked securities, through permissible modes.
The announcement was made on Saturday, 5 July 2020. Shares of ICICI Bank settled 0.47% lower at Rs 361 on Friday.
ICICI Bank said that the meeting of the board of directors of the bank is scheduled on 8 July 2020 to consider and approve the proposal of raising funds by issue of equity shares and/or other equity linked securities, through permissible modes including but not limited to a private placement, preferential issue, qualified institutions placement, further public offer, etc., or any combination thereof.
While announcing Q4 earnings on 9 May 2020, ICICI bank had stated that it would look at further strengthening the balance sheet as opportunities arise.
The private lender's net profit rose 26.04% to Rs 1,221.36 crore on 12.09% rise in total income to Rs 23,443.66 crore in Q4 March 2020 over Q4 March 2019.
ICICI Bank is one of India's leading private banks having a banking network of 5,324 branches and 15,688 ATMs as on 31 March 2020.
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