Wednesday, 14 March 2018

ICICI Securities IPO to open on March 21, to raise Rs 4,200 cr: Sources

ICICI Securities, the broking business auxiliary of ICICI Bank, is relied upon to open its underlying open offer on March 21, reports CNBC-TV18 citing sources.

The organization after counsel with dealer investors may have settled the value band at around Rs 1,215-1,240 for every offer.

The nation's biggest private part moneylender is probably going to raise around Rs 4,200 crore by weakening 24 percent value stake in ICICI Securities through open offer.

Sources said the broking business of the bank might be esteemed at Rs 16,800 crore.

The issue is relied upon to close on March 23, sources included.

It would be the third backup of ICICI Bank to dispatch IPO since September 2016 after ICICI Lombard General Insurance Company and ICICI Prudential Life Insurance Company.

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