ICICI Bank said on Saturday that it had completed the allotment of equity shares through Qualified Institutional Placement to raise Rs.15,000 crore. ICICI Bank, the country’s third largest private sector lender by market capitalisation, issued 41.90 crore shares at Rs.358 apiece. The shares represented a 1.9 per cent premium to the floor price, and a discount of 1.5 per cent to the closing price of its shares stock exchanges prior to the launch of the issue, ICICI Bank said.
The issue received a “healthy participation” from the global and domestic investor community, including foreign portfolio investors, domestic mutual funds and insurance companies, ICICI Bank said in a statement.
ICICI Bank said the proceeds will be utilized to strengthen its capital adequacy ratio, improve its competitive positioning and general corporate requirements.
ICICI Bank also said it is well-positioned to serve the market and benefit from opportunities going forward.
“In these extraordinary times of the coronavirus pandemic, the Bank will continue to strive to serve its customers and also emerge stronger as an institution,” ICICI Bank said.