ICICI Bank to list partly paid shares

ICICI Bank Ltd has announced that the Bank has decided to reserve upto 5% of the issue, or Rs 437.5 crore in value, for Existing Retail Shareholders of the Bank. The Bank, in consultation with the Book Running Lead Managers (BRLMs) and the Co-Book Running Lead Managers (CBRLMs), may decide to allot the equity shares to Existing Retail Shareholders and Retail Bidders at a differential lower price as compared to the price for QIBs and Non Institutional Bidders. The price payable by the Existing Retail Shareholders and Retail Bidders shall be at such discount as may be decided by the Bank in consultation with the BRLMs and the CBRLMs and shall be notified before the Issue Opening Date.

Existing Retail Shareholders and Retail Bidders have the option to pay Rs 250 per share on application, Rs 250 on allotment and the balance amount payable on a call which is to be issued by the Bank within a period of 6 months from the date of allotment. These partly paid shares will be listed and traded after payment of the amount due on allotment under a separate ISIN.

The Bank is dispatching distinct Bid cum Application forms ("Application Form") to all Existing Retail Shareholders at their addresses in India, as per the Bank's / depository's records. If any Existing Retail Shareholders do not have a registered address in India, then Application Form shall be mailed to the address, if any, within India supplied by such shareholders to us for giving of notices and other documents.

For the purposes of the above, Retail Bidders are defined as individual bidders (including HUFs and NRIs) who have bid for equity shares for a cumulative amount payable on application and balance amount payable (as the case may be, based on the Payment Method selected) of not more than Rs 100,000 (net of retail discount, if any) and the Existing Retail Shareholders are defined as natural persons including individual bidders and HUFs who are holders of equity shares of the Bank as on June 13, 2007 and who hold equity shares worth not more than Rs 100,000 determined on the basis of the closing price of the equity shares on the NSE on the previous day to the above date i.e. June 12, 2007.

Source : Equity Bulls

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