ICICI Bank raises Rs 20,125 cr from public issue

Mumbai, June 24 (UNI) ICICI Bank has raised US 4.9 billion dollars (Rs 20,125 crore) through its follow on public offer (FPO) in domestic market and from the issue of American Depositary Share (ADS) in United States.

The bank priced the public issue at Rs 940 per share.

ICICI mopped up USD 2.149 billion (Rs 8,750 crore) from domestic issue and USD 2.14 billion from US. The capital rasied include a green shoe option of USD 644 million (around Rs 2,625 crore).

The issue, opened on June 19 and closed on June 22, was subscribed 11.5 times, wherein the Qualified Institutional Bidder (QIB) category subscribed 21.6 times, non-Institutional Investors subscribed 6.1 times, while retail investors was suscribed 1.0 times.

The bank raised USD 2.14 billion through the issue of ADS, which was priced at USD 49.25 per issue.

Goldman Sachs(India) Securities Private Limited, DSP Merrill Lynch Limited, Enam Financial Consultants Private Limited and J M Financial Consultants Private Limited were the lead managers of the issue.

The bank said ''It is raising funds for future asset growth and augmentation of capital base to meet our future capital adequacy requirements arising out of growth in businesses and for general corporate purposes.'' The second largest bank in India after State Bank of India (SBI), ICICI Bank had posted a Net profit After Tax (NPA) of Rs 31,102.2 million in fiscal year 2007 as compared to the previous year profit of Rs 25,400.7 million in FY-06.

ICICI have 17 subsidiaries and have stakes in funds in private equity funds and venture capital funds like ICICI property trust, ICICI eco-net internet and technology fund and ICICI equity fund.

ICICI shares had ended 0.43 per cent up at Rs 953.75 on Friday.

UNI