ICICI Bank Prices Public Issue Of Equity Shares At Rs 940

ICICI Bank Ltd has announced that the public issue of equity shares by the Bank in India, of Rs 8,750 crore (USD 2,149 million), which was open from June 19, 2007 to June 22, 2007, has been priced at Rs 940 (USD 23.1) per equity share. The issue has a green shoe option of Rs 1,312.5 crore (USD 322 million). This is part of the Banks consolidated capital raising exercise of Rs 17,500 crore (USD 4,298 million), with a green shoe option of Rs 2,625 crore (USD 644 million), the largest capital raising exercise by an Indian Company.The issue price represents a premium of 3.6% to the average closing price since the announcement of the issue on April 28, 2007. The issue was subscribed 11.5 times with the Qualified Institutional Buyers category being subscribed 21.6 times, Non Institutional Investors category being subscribed 6.1 times and Retail Individual Investors category being subscribed 1.0 time.