The follow-on issue of ICICI Bank opens Tuesday and closes no June 22. The bank plans a domestic float and ADS issue. The price band for the issue will be fixed on Monday.
The domestic issue is for Rs 8,750 crore, with a greenshoe option of Rs 1,312.5 crore. The bank also plans an American depositary share issue of Rs 10,100 crore. Both the ADS and domestic issues will run simultaneously.
Of the total domestic float, 5 per cent will be reserved for existing retail shareholders, and they will get 5 per cent discount to issue price. However, only those shareholders who hold shares less than Rs 1 lakh in value on record date, which was June 13, will be eligible.
The offer constitutes 19.8 per cent of diluted equity, and the ADS component about 9.9 per cent of post-issue capital.The issue is being made to meet the capital adequacy requirements and augment bank's capital to fund future requirements.The bank's CAR is currently at 11.69 per cent. Post-issue it is seen at 15 per cent.
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