Money & Banking

ICICI Bank raises Rs 15,000 crore through QIP

Our Bureau Mumbai | Updated on August 15, 2020

Private sector lender ICICI Bank has raised Rs 15,000 crore through its qualified institutional placement.

“The Issuance Committee of the board of directors of the bank at its meeting held today- August 15, 2020, approved allotment of 418,994,413 equity shares of face value Rs 2 each to eligible qualified institutional buyers at the issue price of Rs 358 per equity share that is, at a premium of Rs 356 per equity share, aggregating to Rs 149,999,999,854, pursuant to the issue,” it said in a regulatory filing on Saturday.

Monetary Authority of Singapore was allotted 11.08 per cent of the equity shares in the QIP while Morgan Stanley Investment Management was allotted 7.31 per cent of the shares and Societe Generale received 5.5 per cent of the shares in the QIP.

The issue opened on August 10 and closed on August 14.

Published on August 15, 2020

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