ICICI Securities, the brokerage and merchant banking arm of private sector lender ICICI Bank, will hit the IPO market on Thursday (March 22) next week. The Rs 4,017-crore offer will close on March 26. The IPO price has been set at Rs 519 to Rs 520 per share. The minimum bid lot for the offer is 28 equity shares and in multiples of 28 equity shares thereafter.
The offer will be open for anchor investors on March 21. The IPO includes sale of 7.7 crore shares or 24% in the investment banking arm of private sector lender.
Bank of America Merrill Lynch, Citigroup, CLSA, Edelweiss, IIFL and SBI Capital Markets are managing the ICICI Securities IPO.
After a record $11 billion in fund-raising from IPOs last year, companies in India have lined up share sales in what bankers and market participants have predicted to be another busy year for capital markets, even though the stock indexes have retreated from record highs hit in late January.