ICICI's public issue to open on June 19 | business | Hindustan Times
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ICICI's public issue to open on June 19

business Updated: Jun 15, 2007 17:41 IST

ICICI Bank on Friday said its follow-on public offer to raise Rs 8,750 crore would open on June 19 and close on June 22.

The public issue seeks to mop up Rs 8,750 crore. There is a Green Shoe option in addition to allocate additional equity shares of up to Rs 1,312.5 crore, ICICI Bank Senior General Manager Anup Bagchi told reporters in Kochi.

The amount including the Green Shoe option will aggregate to Rs 10,062.5 crore, he said.

The issue would be made through book-building route and the price band would be announced on June 18, he said.

Bagchi said up to five per cent of the issue (shares worth Rs 437.5 crore) has been reserved for existing retail shareholders of the bank.

"Retail bidders also have the option to pay Rs 250 per share on application, Rs 250 on allotment and the balance amount on a call, to be made by the bank within a period of six months from the date of allotment," he said.

The issue is a part of the bank's consolidated capital raising exercise of Rs 20,125 crore, including a green shoe option of Rs 2,625 crore, he said.

The balance Rs 10,062.5 crore is proposed to be raised through issue of American Depositary Shares (ADS), which would be listed on the New York Stock Exchange.