ICICI Bank Ltd closes QIP, fixes price as Rs. 358

The Issuance Committee of the Board of Directors of ICICI Bank (the “Issuance Committee”) in respect of the qualified institutions placement of equity shares of face value of Rs. 2 each (“Equity Shares”) by ICICI Bank Limited (the “Bank”) at its meeting held today, i.e., August 14, 2020 has, approved the closure of the issue period for the Issue today, i.e., August 14, 2020.

The board determined and approved the issue price of Rs. 358.00 per Equity Share (including a premium of Rs. 356.00 per Equity Share), determined as per formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue.

The board approved and adopted the placement document dated August 14, 2020 and approved and finalized the confirmation of allocation note to be sent to the eligible qualified institutional buyers, intimating them of allocation of Equity Shares pursuant to the Issue.

Shares of ICICI BANK LTD. was last trading in BSE at Rs.361.45 as compared to the previous close of Rs. 367.9. The total number of shares traded during the day was 1864622 in over 13085 trades.

The stock hit an intraday high of Rs. 371.75 and intraday low of 354.4. The net turnover during the day was Rs. 682489111.

Related posts

Leave a Comment