ICICI Bank garners 5.18 times subscription, subscription closes tomorrow

The Follow on public offer of ICICI Bank Ltd has received overwhelming response from Qualified Institutional Buyers (QIBs) with the overall issue receiving 5.18 times subscription as on 21 June 2007 at 1700 hrs IST.

The issue has received total bids for 512249904 equity shares against the offer of 98870056 equity shares. The Bank has received bids for 3069390 equity shares at cut-off price.

The response from Qualified Institutional Buyers (QIBs) has been overwhelming with the issue receiving bids for 487633710 equity shares against the offer of 46963276 equity shares resulting in a subscription of 10.3833 times. The Non Institutional Investors portion has received bids for 21225318 equity shares against the offer of 14088984 shares resulting in a subscription of 1.5065 times.

The issue has been shun by Retail Individual Investors (RIIs) till today. The bank has received just 0.1027 times subscription with bids for 3376428 shares against the offer of 32874294 shares to the Retail Individual Investors (RIIs). The portion for Eligible Shareholders Reservation also has received lukewarm response with bids for just 14448 shares against the offer of 4943502 shares resulting in a subscription of 0.0029 times.

Source : Equity Bulls

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