ICICI Securities raises Rs 1,718 crore from anchor investors

Mumbai: ICICI Bank's broking arm ICICI Securities on Wednesday mopped up Rs 1,718 crore through allotment of shares to 58 anchor investors. ICICI Securities allotted 3.3 crore shares at Rs 520, the upper end of the price band.

The company has set a price band of Rs 519-Rs 520 per share for the IPO. International anchor investors to the issue included Temasek, Fidelity, Fairfax, Nomura, Amansa Holdings and BlackRock. Domestic funds which invested in the anchor allotment included HDFC MF, DSP BlackRock, Reliance MF, Premji Invest, SBI MF, Birla MF and IDFC MF.

The company's IPO opens on Thursday and will close on Monday. ICICI Bank aims to raise about Rs 4,000 crore at the upper end of the price band by selling 7.7 crore shares or 24% stake in ICICI Securities.

Original Article


ET Markets


Leave a Reply