Indian IPO

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Wednesday, May 16, 2007

ICICI Bank to raise Rs 20,125 cr via FPO

ICICI Bank is planning to raise over 20000 crore through Follow on Public Offer of equity shares and American Depository Shares for augment their capital base to meet their future capital adequacy and to meet requirements arising out of growth in their businesses and for other general corporate purposes.

JP Morgan Stanley has come out with a report on ICICI Bank FPO. Here are the key takeaways of report.....

The Issue ICICI Bank Limited

Transaction Domestic Public Issue of shares – 100% Book Building

Issue Size Follow on Issue of (*) equity shares of Rs 10 each (including a greenshoe option). The Follow – on Domestic Issue and an issue of American Depository Shares of upto (*) million (including a greenshoe option) will comprise 25% of ICICI Bank’s authorised equity share capital.

Exchanges Bombay Stock Exchange Limited (BSE), National Stock Exchange of India Limited (NSE),

Book Running Lead Manager JM Morgan Stanley Private Limited, DSP Merrill Lynch Limited, Enam Financial Consultants Pvt Limited, Goldman Sachs (India) Securities Private Limited,

Co- Book Running Lead Manger - ICICI Securities Primary Dealership Limited

Registrar Karvy Computershare Private Limited

The combined issue i.e the Domestic Issue + Issue of American Depository Shares will be approximately Rs 20,125 crores

Objects of the Issue

Requirement of Funds: Augment their capital base to meet their future capital adequacy requirements arising out of growth in their businesses and for other general corporate purposes

Company Overview:

They are a private sector commercial bank and, together with their subsidiaries, offer products and services in the areas of commercial banking to retail and corporate customers (both domestic and international), treasury and investment banking and other products like insurance and asset management.

International Presence:

Subsidiaries - United Kingdom (branch in Antwerp – Belgium), Canada, Russia

Branches – Singapore, Dubai, Sri Lanka, Hong Kong, Bahrain

Approval from the RBI and Qatar Financial Centre Regulatory Authority to setup a branch in Qatar

Representative Offices – United States, China, United Arab Emirates, Bangladesh, South Africa, Malaysia, Thailand, Indonesia


ICICI Securities and ICICI Securities Primary Dealership: Equity underwriting and brokerage and primary dealership in Government securities. ICICI Securities owns, a leading online brokerage platform.

ICICI Venture Funds Management Company: Venture Capital and Private Equity Fund Management

ICICI Prudential Life Insurance Company, ICICI Lombard General Insurance Company and ICICI Prudential Asset Management Company: Provide a wide range of life and general insurance and asset management products and services to retail and corporate customers


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