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Mar 21, 2018 10:03 PM IST | Source: Moneycontrol.com

ICICI Securities raises Rs 1,717 cr from anchor investors

The broking subsidiary of the bank has finalised allotment of 3,30,24,165 equity shares to 28 anchor investors at a price of Rs 520 per share.

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ICICI Securities, the subsidiary of country's largest private sector lender ICICI Bank, has raised Rs 1,717.25 crore from anchor investors on Wednesday, the day before issue opens.

The broking subsidiary of the bank has finalised allotment of 3,30,24,165 equity shares to 28 anchor investors at a price of Rs 520 per share.

Big names in anchor investors which subscribed the issue are Aditya Birla MF, Amansa Holdings Aranda Investments, Artisan MF, Axis MF, Bajaj Allianz Life Insurance, Blackrock India Equities (Mauritius), DB International, DSP Blackrock MF, Edelweiss MF, FIL Investments (Mauritius), Government Pension Fund Global, HDFC MF, IDFC MF, Key Square Master Fund, Kotak MF, L&T MF, Reliance MF, Sundaram MF, Nomura, UTI MF etc.

The private sector lender aims to raise Rs 4,017 crore through the public issue of ICICI Securities.

The public issue of 7,72,49,508 equity shares will open for subscription on March 22, 2018. The company has fixed issue price band at Rs 519-520 per share.

The offer includes a reservation of up to 38,62,475 equity shares of ICICI Securities for purchase by ICICI Bank shareholders, i.e., the individuals and HUFs who are the public equity shareholders of ICICI Bank Limited.

The offer will close on March 26, 2018. Bids can be made for minimum 28 equity shares and in multiples of 28 equity shares thereafter.

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