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Last Updated : Apr 04, 2018 08:01 AM IST | Source: PTI

ICICI Securities to list on Wednesday after weak IPO

A total of 67,593,245 equity shares have been allotted at an offer price price of Rs 520 apiece, the upper end of the price band, aggregating to Rs 3,514.85 crore, ICICI Securities said.

ICICI Securities today said it has raised Rs 3,515 crore at the issue price of Rs 520 per share from its recently concluded initial public offering.

The public issue closed on March 26 after three days of bidding in a price band of Rs 519-520.

A total of 67,593,245 equity shares have been allotted at an offer price price of Rs 520 apiece, the upper end of the price band, aggregating to Rs 3,514.85 crore, ICICI Securities said.

Shares of the company will list on the exchanges tomorrow, BSE and NSE said in separate circulars.

Earlier, ICICI Securities had reduced the size of its initial public offer (IPO) to little over Rs 3,500 crore after the sale elicited a sluggish response, especially from high networth individuals.

The share sale of the leading brokerage firm -- which was to raise up to Rs 4,016 crore -- received around 88 per cent subscription, including the anchor portion, on the last day of the bidding.

DSP Merrill Lynch, ICICI Securities, Citigroup Global Markets India, CLSA India, Edelweiss Financial Services, IIFL Holdings and SBI Capital Markets managed the issue.
First Published on Apr 3, 2018 08:44 pm
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