Tuesday, 27 March 2018

ICICI Securities closes IPO, raises Rs 3,500 crore amid tepid response from HNIs, retail; QIB supports

ICICI Securities, the backup of ICICI Bank, at long last shut the issue and raised around Rs 3,500 crore against add up to IPO size of Rs 4,017 crore prior because of lukewarm reaction from non-institutional and retail financial specialists on Monday, the last day.


The offer was to a great extent bolstered by qualified institutional financial specialists whose held segment completely bought in on the most recent day.

"The organization has effectively shut its proposed Offer available to be purchased (OFS) by ICICI Bank and raised roughly around Rs 3,500 crore," ICICI Securities said.

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Prior the OFS pulled in a solid reaction from stay financial specialists raising around Rs 1,717 crore on March 21, 2018. The QIB partition was completely bought in starting at 8:30 hours IST on March 26, 2018, it included.

The underlying offer of ICICI Securities has gotten 88 percent membership, including the bit set apart for grapple financial specialists, on the most recent day today.

The offer pulled in memberships of almost 78 percent, barring the stay partition, till 1945 hours, according to information accessible with the NSE.

The IPO of the business firm, some portion of ICICI gathering, got offers for 3,46,75,396 offers against the aggregate issue size of 4,42,25,343 offers (without grapple parcel), information accessible with the NSE till 1945 hrs appeared.

The part put aside for qualified institutional purchasers (QIBs) was bought in 1.04 times, non institutional financial specialists 35 percent and retail speculators 88 percent, according to BSE information.

The IPO is of up to 77,249,508 offers (counting grapple bit of 33,024,165 offers). Value band for the issue has been settled at Rs 519-520. ICICI Securities a week ago raised Rs 1,717 crore from stay speculators.

DSP Merrill Lynch, ICICI Securities Limited, Citigroup Global Markets India, CLSA India, Edelweiss Financial Services, IIFL Holdings and SBI Capital Markets are the administrators to the issue.

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