ICICI Bank FPO receives 11.50 times subscription

The follow-on public issue of ICICI Bank Ltd has received overwhelming response from all category of investors with the issue receiving 11.50 times subscription. The issue opened for subscription on June 19, 2007 and closed on Friday June 22, 2007.

The issue has received total bids for 1136920434 equity shares against the offer of 98870056 shares. The issue has received bids for 34198482 equity shares at cut-off price.

The Bank offered shares in a price band of Rs.885 to Rs.950. The Bank also offered a discount of Rs.50 and part-payment option for retail individual investors.

The issue received overwhelming response from Qualified Institutional Buyers (QIBs) with their portion receiving subscription of 21.6172 times. The Qualified Institutional Buyers (QIBs) portion has received bids for 1015215672 shares against the offer of 46963276 shares.

The Non Institutional Investors portion of the issue received bids for 86581608 shares against the offer of 14088984 shares resulting in a subcription of 6.1453 times.

The Retail Individual Investors (RIIs) portion scraped through with a subscription of 1.0347 times. Retail Individual Investors (RIIs) had applied for 34015206 shares against the offer of 32874294 shares.

The Eligible Shareholders Reservation received lukewarm response with a subscription of 0.2241 times. The existing shareholders had applied for 1107948 shares against the offer of 4943502 shares.

Source : Equity Bulls

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