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ICICI Securities, the subsidiary of ICICI Bank has opened its its initial public offer (IPO) for subscription today on March,22 and the issue will close on March,26.
The issue consists of an offer for sale of up to 7,72,49,508 equity shares by promoter ICICI Bank, which includes reservation of up to 38,62,475 shares for purchase by the ICICI Bank shareholders.The offer constitutes 23.98% of the post-offer paid-up equity share capital.
The company targets to raise Rs.4,009.25-4,016.97 crore through the issue and has fixed a price band of Rs.519-520 per share. Bids can be made for a minimum lot of 28 equity shares and in multiples of 28 equity shares thereafter.
