Moneycontrol
Last Updated : Mar 15, 2018 12:23 PM IST | Source: CNBC-TV18

ICICI Securities IPO to open on March 21, to raise Rs 4,200 cr: Sources

The country's largest private sector lender is likely to raise approximately Rs 4,200 crore by diluting 24 percent equity stake in ICICI Securities through public offer.

CNBC TV18 @moneycontrolcom

ICICI Securities, the broking business subsidiary of ICICI Bank, is expected to open its initial public offer on March 21, reports CNBC-TV18 quoting sources.

The country's largest private sector lender is likely to raise approximately Rs 4,200 crore by diluting 24 percent equity stake in ICICI Securities through public offer.

Sources said the broking business of the bank may be valued at Rs 16,800 crore.

The issue is expected to close on March 23, sources added.

It would be the third subsidiary of ICICI Bank to launch IPO since September 2016 after ICICI Lombard General Insurance Company and ICICI Prudential Life Insurance Company.

Watch accompanying video of CNBC-TV18’s Yash Jain for more details.
First Published on Mar 14, 2018 08:32 am
Sections
Follow us on
Available On