ICICI Bank market cap on BSE is Rs1 trillion; rushes to Jhajjar SEZ with new branch

09 July 2007

Mumbai: The country`s largest private lender ICICI Bank has joined the Rs1-trillion (Rs100,000 crore) market cap club that includes Reliance Industries, ONGC, Bharti Airtel, NTPC, Reliance Communications, Infosys and Tata Consultancy Services.

ICICI Bank has become the eighth company on the bourses to cross the Rs1,00,000 crore mark following the recent listing of its fresh 5.81 crore equity shares on the bourses.

The bank`s market capitalisation rose to Rs1,03,003.37 crore with its shares trading at Rs970.75, down 1.13 per cent from its high, on the Bombay Stock Exchange in the afternoon trade.

The scrip surged to an intra-day high of Rs985 on the exchange and a total of 6.87 lakh shares of ICICI bank were traded by the afternoon session.

ICICI Bank had lost its eighth position in terms of market cap briefly to realty major DLF after its recent listing on the bourses. DLF has now slipped to the ninth rank with market cap of about Rs97,359 crore.

ICICI Bank had raised over Rs 5,400 crore in a follow-on public offer which had received robust investor response getting subscribed 11.50 times.