ICICI Bank enters capital market to raise Rs 8,750 cr

Chandigarh, June 18 (UNI) India's leading private sector ICICI Bank will enter the domestic capital market tomorrow with equity shares of Rs 8,750 crore through book building route.

Up to five per cent of the issue amounting to Rs 437.50 crore is reserved for existing retail shareholders of the Bank, holding upto 108 shares of the bank as of June 13, 2007, said Mr. Vivek Kanwar, General Manager ICICI bank. The issue has a green shoe option of Rs 1,312.5 crore, he added.

He said the price band for the issue has been fixed at Rs 885 and Rs 950 per equity share adding Retail bidder, excluding retail shareholders, will be allotted share at a discount of Rs 50 per share to the issue price.

Of the consolidated Rs 20,125 crore, the bank will mop up 10,062.5 crore including a green shoe option of Rs 1,312.5 crore through an issue of American Depositary Shares (ADS) listed in the New York Stock Exchange (NYSE) during the issue period, Mr. Kanwar said.

UNI