India's most-valuable lender, ICICI Bank, may be planning an initial public offer in its investment banking and broking unit, traders and analysts said on Monday, sending its shares soaring more than 6 per cent.A spokesman for New York-listed ICICI said it was exploring various opportunities for its subsidiaries and that an announcement would be made if there was any decision.
The bank held a meeting for a group of investors on Monday, and traders said that was the source of the IPO talk in ICICI Securities, which lifted the stock from a 3.9 per cent early fall to end up 6.1 percent at a record close of Rs 1,363.90 ($34.7).
ICICI Securities offers services in corporate finance, fixed income and equities and operates out of Mumbai with offices in New Delhi, Chennai, Kolkata, New York, London and Singapore, according to its Web site. It also has a subsidiary in the United States which is a member of the National Association of Securities Dealers Inc and is registered with authorities in the United Kingdom and Singapore to offer corporate advisory services.
Read more in The Economic Times article.
Showing posts with label ICICI Securities. Show all posts
Showing posts with label ICICI Securities. Show all posts
Tuesday, January 8, 2008
Thursday, August 23, 2007
Rural Electrification Corp file papers for 156 mn share IPO
State-run lender Rural Electrification Corp Ltd (REC) has filed initial papers with the market regulator for a 156-million-share initial public offering, a senior official said on 23 August.
The book-built issue will equally comprise a fresh issue of shares and disinvestment by the federal government. Post-issue, the government’s stake in the firm will come down to 81.82% from 100%.The company is aiming to raise about Rs12 billion from the issue, another source close to the issue said. The funds raised from the fresh issue will be used for funding ongoing and future projects.
REC is the nodal agency for promoting rural electrification projects and also finances state electricity boards for investment in such projects. For the year to March 2007, it reported net profit of Rs6.6 billion on total income of Rs28.5 billion. The company is one of the three state-run power firms cleared earlier this year to sell equity, marking a limited revival of asset sales by the Indian government.
ICICI Securities Ltd, IL&FS Investsmart and SBI Capital Markets are the book-running lead managers to the issue
The book-built issue will equally comprise a fresh issue of shares and disinvestment by the federal government. Post-issue, the government’s stake in the firm will come down to 81.82% from 100%.The company is aiming to raise about Rs12 billion from the issue, another source close to the issue said. The funds raised from the fresh issue will be used for funding ongoing and future projects.
REC is the nodal agency for promoting rural electrification projects and also finances state electricity boards for investment in such projects. For the year to March 2007, it reported net profit of Rs6.6 billion on total income of Rs28.5 billion. The company is one of the three state-run power firms cleared earlier this year to sell equity, marking a limited revival of asset sales by the Indian government.
ICICI Securities Ltd, IL&FS Investsmart and SBI Capital Markets are the book-running lead managers to the issue
Thursday, June 14, 2007
BEML's follow-on issue on June 27
Bharat Earth Movers Ltd’s follow-on public issue of 49 lakh equity shares of Rs 10 each will open on June 27 and close on July 3. The price band is yet to be announced.ICICI Securities is the book running lead manager to the issue.
The issue would constitute 11.77 pct of the fully diluted post issue paid-up capital.
BEML is the second largest manufacturer of earthmoving equipments in Asia, and commands 70 pct market share in domestic industry.
The ministry of defence is BEML’s largest customer. The company’s other customers are Indian Railways, Delhi Metro Rail Corporation and other metro rail transit agencies.
The issue would constitute 11.77 pct of the fully diluted post issue paid-up capital.
BEML is the second largest manufacturer of earthmoving equipments in Asia, and commands 70 pct market share in domestic industry.
The ministry of defence is BEML’s largest customer. The company’s other customers are Indian Railways, Delhi Metro Rail Corporation and other metro rail transit agencies.
Monday, June 11, 2007
Inst investors lap up DLF offering within an hour
Property developer DLF Ltd. said the institutional portion of its $2.4 billion initial public offering, the country's biggest, had been fully subscribed within an hour of its opening on Monday.
Banking sources told media the offer had received bids to cover about 40 per cent of the issue within 45 minutes of the offer opening.
The offering of 175 million shares at an indicated price band of 500-550 rupees ($12.20-$13.40) each has an institutional allotment of 104.4 million shares.The offer runs until Thursday.
DLF is selling 10.27 per cent of its enlarged capital. If the sale is priced at the upper end of an indicative range, the firm would be valued at around $23 billion, ahead of State Bank of India and ICICI Bank and rival Unitech Ltd., which is worth around $11 billion.
The IPO was shelved in May last year after the stock market dropped sharply and amid disputes with minority shareholders. At the time, New Delhi-based DLF hoped to raise over $3 billion.
The IPO is lead managed by Kotak Mahindra and DSP Merrill Lynch. Other managers are UBS, Citigroup, Lehman Brothers, Deutsche Bank, ICICI Securities, and SBI Capital Markets.
Banking sources told media the offer had received bids to cover about 40 per cent of the issue within 45 minutes of the offer opening.
The offering of 175 million shares at an indicated price band of 500-550 rupees ($12.20-$13.40) each has an institutional allotment of 104.4 million shares.The offer runs until Thursday.
DLF is selling 10.27 per cent of its enlarged capital. If the sale is priced at the upper end of an indicative range, the firm would be valued at around $23 billion, ahead of State Bank of India and ICICI Bank and rival Unitech Ltd., which is worth around $11 billion.
The IPO was shelved in May last year after the stock market dropped sharply and amid disputes with minority shareholders. At the time, New Delhi-based DLF hoped to raise over $3 billion.
The IPO is lead managed by Kotak Mahindra and DSP Merrill Lynch. Other managers are UBS, Citigroup, Lehman Brothers, Deutsche Bank, ICICI Securities, and SBI Capital Markets.
Wednesday, May 23, 2007
Central Bank plans to raise $197 mn IPO
State-run commercial lender Central Bank of India has filed papers with the regulator for an initial public offering to sell 20 percent, which bankers said could raise about Rs 80 crore ($197 million).
The bank said in its offer document it planned to sell 80 million shares, or a fifth of its post-issue capital.
"We are aiming for about 8 billion rupees," said a banker associated with the issue, adding it may open for subscription in July. Another banker also gave a similar figure.
The bank's net profit jumped 93 percent to Rs 49.8 crore in the fiscal year ended March, boosted by lower provisioning for bad loans, it said in the offer document.
ICICI Securities, Citigroup, Enam Financial, IDBI Capital and Kotak Mahindra are arrangers to the issue.
The bank said in its offer document it planned to sell 80 million shares, or a fifth of its post-issue capital.
"We are aiming for about 8 billion rupees," said a banker associated with the issue, adding it may open for subscription in July. Another banker also gave a similar figure.
The bank's net profit jumped 93 percent to Rs 49.8 crore in the fiscal year ended March, boosted by lower provisioning for bad loans, it said in the offer document.
ICICI Securities, Citigroup, Enam Financial, IDBI Capital and Kotak Mahindra are arrangers to the issue.
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