ICICI Bank public issue opens on December 1, 2005
24 Nov 2005
The public issue is part of the Bank's consolidated capital raising exercise of Rs7,000 crore with a green shoe option of Rs1,050 crore. Of this total amount, Rs2,300 crore (including a green shoe option of Rs3,00cror) is proposed to be raised through an issue of American Depositary Shares (ADS) including a 'public offering without listing' (POWL) component in Japan.
The issue will be made through the book-building route, and the price band will be announced prior to the opening of the issue. Up to 5 per cent of the issue, or Rs250 crore, is reserved for existing retail shareholders of the bank whose holding value at the end of the day on November 25 is under Rs1 lakh.
Retail bidders, including existing retail shareholders (individual bidders [including HUFs and NRIs] whose bid amount does not exceed Rs100,000 ), will be allotted shares at a price 5 per cent lower than the issue price determined through the book-building process. Retail bidders also have the option to pay Rs150 per share on application with the balance payable on allotment.
Existing retail shareholders are defined as bidders holding equity shares of the Bank on November 25, 2005, the number of shares held by whom as of that date multiplied by the closing price of the Bank's equity shares on that date on the National Stock Exchange of India Ltd does not exceed Rs1,00,000.
