Twitter
Advertisement

ICICI Securities IPO opens today: 5 things to know before investing

The subsidary of ICICI Bank, ICICI Securities opened its initial public offering today. The leading securities firm of the country is planning to raise Rs 4,000 crore.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

The subsidary of ICICI Bank, ICICI Securities opened its initial public offering today. The leading securities firm of the country is planning to raise Rs 4,000 crore. 

The issue that opened today will be closed on March 26.

The IPO of ICICI Securities Ltd is the fourth public issue from ICICI group to date and third in last three years.

Earlier, the promoter ICICI Bank has finished initial share sales of ICICI Lombard General Insurance and ICICI Prudential Life Insurance in 2017 and 2016 respectively.

Below we have listed five things about the IPO that you should know before buying. 

1. ICICI Securities has expected to raise up to Rs 4,017 crore at the upper end of the price band of Rs 520. ICICI Securities has fixed a price band of Rs 519 to Rs 520 for its initial share sale. 

2. Out of the total issue, 39 lakh shares are reserved for the shareholders of ICICI Bank and the bids can be made for a minimum of 28 equity shares.

3. ICICI Securities deals in a variety of inancial services including brokerage, financial product distribution and investment banking and focuses on both retail and institutional clients.

4. Among the book running lead managers are IIFL Holdings, BofA Merill Lynch, Citi, CLSA, Edelweiss and SBI Capital Market. 

5.Headquartered in Mumbai, ICICI Securities operates out of 75 cities in India and wholly owned indirect subsidiaries in Singapore and New York. 

ICICI Securities Inc., the stepdown wholly owned US subsidiary of the company is a member of the Financial Industry Regulatory Authority (FINRA) / Securities Investors Protection Corporation (SIPC). ICICI Securities Inc. activities include dealing in Securities and corporate advisory services in the United States.

ICICI Securities Inc. is also registered with the Monetary Authority of Singapore (MAS) and operates a branch office in Singapore.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement