New Delhi: ICICI Bank will raise Rs 4,020 crore by selling a 24 % holding in ICICI Securities Ltd in a public issue which will begin on 22nd March and close on 26th March, 2018. ICICI Securities Limited (the “Company” or the “Issuer”) proposes to open on Thursday, March 22, 2018, an initial public offering of 77,249,508 Equity Shares of face value of Rs. 5 each for cash at a Price including a Share Premium (the “Offer”) through an Offer for Sale of up to 77,249,508 Equity Shares by ICICI Bank Limited (the “Promoter Selling Shareholder”), including a reservation of up to 3,862,475 Equity Shares for purchase by the ICICI Bank Shareholders for cash at a Price including a Share Premium (“ICICI Bank Shareholders’ Reservation Portion”). The Offer would constitute 23.98% of the Post-Offer Paid-Up Equity Share Capital and the Net Offer (the Offer excluding “ICICI Bank Shareholders’ Reservation Portion”) shall constitute 22.78% of the Post-Offer paid-up Equity Share Capital.
The Price Band has been fixed from Rs. 519 to Rs. 520 per Equity Share. Bids can be made for a minimum lot of 28 Equity Shares and in multiples of 28 Equity Shares thereafter.
The Bid/Offer Period will close on Monday, March 26, 2018. The Promoter Selling Shareholder, in consultation with the Lead Managers, is considering participation by Anchor Investors in accordance with the the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI ICDR Regulations”). The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Issue Opening Date, being March 21, 2018.
The Equity Shares being offered through the Red Herring Prospectus dated March 13, 2018 (the “RHP”) are proposed to be listed on BSE and NSE.
The Book Running Lead Managers (“BRLMs” or “Lead Managers”) to the Offer are DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, Edelweiss Financial Services Limited, IIFL Holdings Limited and SBI Capital Markets Limited. ICICI Securities Limited is acting as the BRLM – Marketing to the Offer.*
The Promoter Selling Shareholder may, in consultation with the Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis, out of which at least one-third shall be available for allocation to domestic Mutual Funds only. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders other than Anchor Investors, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.
Speaking to Ten News, ICICI Securities MD & CEO, Shilpa Kumar Spoke about the objectives of the upcoming IPO and the outlook on banking and financial services
“On innovation and continuous improvement front company is dedicated for technological edge over the competitors,” said Shilpa.
Watch Full Interview:
