ICICI Bank Ltd on Monday said it has priced its recently concluded follow-on issue at Rs 940 per equity share. The Rs 8,750-crore issue was made at an offer price of Rs 885-950 per share and was open from June 19-22.
At 10:51AM, ICICI Bank shares were down nearly 1 per cent at Rs 944.50 on the Bombay Stock Exchange in line with the general weakness in banking shares. So far, the stock has seen a high of Rs 960 and low of Rs 940 with volume traded at 42,306 against two-week average of 3,96,524 shares.
The issue price represents a premium of 3.6 per cent to the average closing price since the announcement of the issue on April 28.
The bank’s American depositary share offering of $ 2.14 billion has been priced at $ 49.25 per ADS, which amounts to Rs 1,002.5 per equity share. It represents a premium of 6.6 per cent over the domestic issue price.
The ADS offering, which represents two equity shares of the bank, has a green shoe option of $ 0.32 billion.
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