Rs 4,017 crore ICICI Securities IPO opens today

NEW DELHI:

ICICI Securities

is going to open its Rs 4,017 crore Initial Public Offering (IPO) on Thursday. The IPO will be available for subscription till March 26.

ICICI Securities, which is a subsidiary of ICICI Bank, is the largest domestic brokerage in terms of broking revenues, is offering shares in the price bandwidth of Rs 519- Rs 520. Bids can be made for a minimum lot of 28 equity shares and in multiples of 28 equity shares thereafter. A total of 7,72,49,508 equity shares are up for sale, which includes reservation of up to 38,62,475 shares for purchase by the ICICI Bank shareholders.

Foreign anchors included Temasek of Singapore, Fidelity of US, Fairfax of Canada, Nomura of Japan and Blackrock of US, a disclosure by I-Sec said on Wednesday. Among the domestic institutions include HDFC MF, DSP Blackrock MF, Reliance MF, Premji Invest, SBI MF, Birla MF and IDFC MF.


Major portion of the anchor book comprises long only funds including sovereign wealth funds, pension funds and other foreign and domestic institutions.