ICICI Bank opens QIP, fixes floor price as Rs. 351.36

The Qualified institutions placement (QIP) issuance committee of the Board ("Issuance Committee") of directors of ICICI Bank Limited has, at its meeting held today, i.e., August 10, 2020, has authorised the opening of the Issue today, i.e., August 10, 2020.

The committee approved the floor price for the Issue as prescribed under SEBI ICDR Regulations and approved and adopted the preliminary placement document dated August 10, 2020 and the application form dated August 10, 2020 in connection with the Issue.

The Issuance Committee of the Board has fixed the 'Relevant Date' for the purpose of the Issue, in terms of Regulation 171 of the SEBI ICDR Regulations, as August 10, 2020 and accordingly the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is Rs. 351.36 per Equity Share.

Shares of ICICI BANK LTD. was last trading in BSE at Rs.363.6 as compared to the previous close of Rs. 357.85. The total number of shares traded during the day was 602687 in over 8070 trades.

The stock hit an intraday high of Rs. 364.95 and intraday low of 357.55. The net turnover during the day was Rs. 217778773.

Source : Equity Bulls

Keywords