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ICICI Securities shares to list on bourses on Wednesday

NEW DELHI: Shares of India’s biggest stock broking firm Icici Securities are scheduled to get listed on BSE and NSE on Wednesday (April 4).

The initial public offering was opened for subscription between March 22 and March 26.

The company had fixed a price band of Rs 519-520 per share.

Icici Securities had reduced the size of its IPO to little over Rs 3,500 crore after the share sale received a sluggish response, especially from high networth individuals.

The share sale of the leading brokerage firm -- which was to raise up to Rs 4,016 crore -- received around 88 per cent subscription, including the anchor portion.

In a statement, ICICI Securities said it has “successfully closed its proposed Offer for Sale (OFS) and raised around Rs 3,500 crore”.

This indicates that the size of the initial public offer -- the fourth one from the ICICI Group -- has been reduced in the wake of sluggish response.

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ICICI Securities shares to list on bourses on Wednesday


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