The Hindu Business Line : ICICI Bank files for ADS issue

ICICI Bank will be going in for an issue of American Depository Shares (ADS) as part of its proposed equity issue. The bank has filed the documents with the US Securities and Exchange Commission.

The bank would be raising Rs 7,000 crore through a combination of Indian and overseas issue of equities.

Both issues would be floated simultaneously either this or next month, said a bank official.

The split between the two issues had also not been decided yet, but the domestic float would be larger than the overseas listing, an official from the bank said.

Merrill Lynch, Morgan Stanley and Nomura International will be the lead managers of the issues.

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