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ICICI Bank share rises over 1% after People's Bank of China buys stake via QIP

Share price of ICICI Bank touched an intraday high of Rs 365.90, rising 1.13% on BSE

twitter-logoBusinessToday.In | August 18, 2020 | Updated 13:38 IST
ICICI Bank share rises over 1% after People's Bank of China buys stake via QIP
ICICI Bank shares have risen 3% in the last one month

ICICI Bank share rose today after People's Bank of China made an investment in the private lender. Share price of ICICI Bank touched an intraday high of Rs 365.90, rising 1.13% on BSE. On Monday, ICICI Bank scrip closed at Rs 360.25 on BSE. The stock has gained after 2 days of consecutive fall.

The share trades higher than 20 day, 50 day and 100 day moving averages but lower than 5 day and 200 day moving averages.  ICICI Bank shares have risen 3% in the last one month.

Market cap of the private lender stood at Rs 2.35 lakh crore in today's session. Total 5.94 lakh shares changed hands amounting to turnover of Rs 21.69 crore on BSE.

Chinese central bank is among the investors in ICICI Bank's Rs 15,000 crore capital raising exercise which ended last week. The  Chinese bank signed a cheque of Rs 15 crore in the private bank under the qualified institutional placement.

The lender also said it completed the issuance of 41.89 crore equity shares at an issue price of Rs 358 per unit.

People's Bank of China buys into ICICI Bank amid 'Boycott China' movement

The issue price represents a 1.9 percent premium to the floor price determined based on the pricing formula as prescribed under Regulation 176(1) of the Security and Exchange Board of India's (SEBI's) ICDR Regulations, and a 1.5 percent discount to the closing price of the bank's equity shares on the BSE/NSE prior to the launch of the issue, the bank said in an exchange filing.

Meanwhile, Sensex was trading 221 points higher at 38,271 and Nifty gained 70 points to 11,317.

Buying in index-heavyweights amid sustained foreign fund inflows and positive cues from global markets led benchmarks higher in today's session.

Share Market News Live: Sensex rises 200 points, Nifty at 11,317; RIL, ONGC, Wipro, Tata Motors top gainers

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