IPO of ICICI Securities Ltd to open on March 22, 2018

ICICI Bank Limited has announced that the red herring prospectus dated March 13, 2018 of ICICI Securities ('Red Herring Prospectus') which was registered by ICICI Securities with the Registrar of Companies, Maharashtra has been approved on March 14, 2018. The Offer includes a reservation of up to 3,862,475 equity shares of ICICI Securities for purchase by ICICI Bank Shareholders, i.e., the individuals and HUFs who are the public equity shareholders of ICICI Bank Limited (excluding such other persons not eligible under applicable laws, rules, regulations and guidelines and American depository receipt holders of ICICI Bank Limited) as on the date of the Red Herring Prospectus.

The Offer will be open for subscription to public on Thursday, March 22, 2018 and shall close on Monday, March 26, 2018. The anchor investor bid/offer period will be open for subscription on March 21, 2018.

The price band for the Offer, as decided by ICICI Bank Limited (being the selling shareholder), in consultation with the lead managers to the Offer, has been fixed on March 14, 2018 at Rs. 519 to Rs. 520 per equity share of ICICI Securities. Further, the minimum bid lot for the Offer has been fixed on March 14, 2018 at 28 equity shares of ICICI Securities and in multiples of 28 equity shares of ICICI Securities thereafter.

Shares of ICICI BANK LTD. was last trading in BSE at Rs.306.35 as compared to the previous close of Rs. 304. The total number of shares traded during the day was 461823 in over 3311 trades.

The stock hit an intraday high of Rs. 307.3 and intraday low of 298.1. The net turnover during the day was Rs. 139434887.

Source : Equity Bulls

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