ICICI Bank raises Rs. 3000 crores through NCDs on private placement basis

The Board of Directors of ICICI Bank, at its meeting held on April 27, 2024, had approved fund raising through issuance of debt securities. Pursuant to the same, the Bank has allotted 3,00,000 senior unsecured redeemable long-term bonds in the nature of non-convertible debentures aggregating to ₹ 3,000.0 crore on private placement basis, the date of allotment being July 1, 2024. The bonds are redeemable at the end of 10 years and 2 days (redemption date being July 3, 2034). There are no special rights/ privileges attached to the bonds.

The bonds carry a coupon of 7.53% p.a. payable annually and were issued at par. The bonds would be listed in the relevant segment of the National Stock Exchange of India Limited.

The bonds are rated "CARE AAA; Stable" by CARE Ratings Limited, "CRISIL AAA/Stable" by CRISIL Ratings Limited and "[ICRA]AAA (Stable)" by ICRA Limited.

Shares of ICICI Bank Limited was last trading in BSE at Rs. 1212.15 as compared to the previous close of Rs. 1199.80. The total number of shares traded during the day was 1525824 in over 45353 trades.

The stock hit an intraday high of Rs. 1215.60 and intraday low of 1191.80. The net turnover during the day was Rs. 1845268637.00.

Source : Equity Bulls

Keywords

ICICIBank INE090A01021 IBN FundRaising NCDs PrivatePlacement