ICICI Securities IPO kicks off today; over 3 crore shares allotted to anchor investors
ICICI Securities IPO: the company has finalised allocation of little over 3.30 crore shares to 58 anchor investors. These shares would be given at Rs 520 apiece -- the upper end of the Rs 519 to 520 per scrip price band.
ICICI Securities IPO: Ahead of its initial public offer, ICICI Securities on Wednesday raised Rs 1,717 crore from as many as 58 anchor investors. The brokerage firm, part of ICICI group, has decided to allot shares at a price of Rs 520 apiece to anchor investors, including Temasek, Nomura, Fidelity, Blackrock and Fairfax.
According to a regulatory filing, the company has finalised allocation of little over 3.30 crore shares to 58 anchor investors. These shares would be given at Rs 520 apiece -- the upper end of the Rs 519 to 520 per scrip price band. This translates to Rs 1,717. 26 crore.
IDFC Premier Equity Fund, L&T Mutual Fund Trustee Ltd -- L&T Prudence Fund Pioneer Investment Fund, Reliance Strategic Investments Ltd and SBI Magnum Balanced Fund are also among the anchor investors.
The initial share sale that opens on Thursday will close on March 26. The minimum bid lot for the offer has been fixed at 28 shares and in multiples of 28 shares thereafter.
The public issue comprises sale of more than 7.72 crore shares. At the upper end of the price band, the IPO could fetch over Rs 4,000 crore.
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