Mumbai: ICICI Bank on Wednesday fixed the issue price of its Rs 5,000 crore domestic offer at Rs 525 per share, a discount of approximately 1.4 per cent over the market price of Rs 532.50 on BSE.
According to the bank statement, ICICI Bank also fixed the issue price of its American Depository Shares at $26.75 per ADS.
Since each ADS represents two equity shares, the ADS price translates into a price of approximately Rs 618 per share, representing a premium of approximately 18 per cent to the domestic issue price.
Earlier, the bank had fixed a price band of Rs 505-545 a share for its domestic offer.
Retail investors would be given shares at a discount of 5 per cent at around Rs 498.75 a share.
Retail investors have bid for shares worth Rs 1,400 crore against the offer of Rs 1,900 crore.
However, the offer was oversubscribed seven times.
Against the domestic issue size of Rs 5,000 crore, the bank received bids worth Rs 35,000 crore.
Of these bids, Rs 26,000 crore have come from FIIs alone. Other qualified institutional buyers put in bids worth Rs 8,000 crore, of which Rs 3,000 crore came from mutual funds.
The Rs 2,000 crore international offer also includes green shoe option of Rs 300 crore.
The international issue also comprises Rs 500 crore public offer without listing in Japan.
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