Proposed IPO of equity shares by ICICI Securities
The Board of Directors of ICICI Securities Limited (ICICI Securities), a wholly-owned subsidiary of ICICI Bank Limited (NYSE: IBN), at its meeting held at Mumbai today approved an initial public offering of equity shares, as well a private placement of equity shares to one or more institutional investors. The Board of Directors of ICICI Bank has also today approved the proposed capital raising. The maximum dilution of ICICI Bank’s holding in ICICI Securities through the proposed public offering and private placement would be up to 15.0% of the post-issue capital base of ICICI Securities.
ICICI Securities’ operations primarily encompass retail broking, institutional broking, distribution of retail financial products, wealth management and equity capital markets, including advisory services. The above equity offering would be subject to necessary regulatory, statutory and other approvals and procedures.
Sourced From: Adfactors Public Relations Pvt Ltd
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