ICICI Securities says IPO raises about $540 million

Indian brokerage ICICI Securities said its initial public offering has raised roughly 35 billion rupees ($540 million), after the three-day book running process ended on Monday.

The offering, in which the brokerage`s parent ICICI Bank was selling shares and had originally targeted to raise as much as 40.17 billion rupees, was not fully subscribed.

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