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ICICI Securities Limited: Initial Public Offer to open on March 22, 2018 and to close on March 26, 2018Price Band: Rs. 519 to Rs. 520 per Equity ShareKolkata, March 19, 2018:
ICICI Securities Limited going for the IPO and when we spoke with the team at Kolkata management said that this is not only book building but also a planed measure for the moving one step ahead in the business domain.
On asking about the timing of launching IPO with bumpy stock market trend the confident management said this is just the market correction going on other wise macro level dynamics are very good for the market.
On innovation and continuous improvement front company is dedicated for technological edge over the competitors.
Details expressed during the press meet by ICICI Securities Limited as follows:
ICICI Securities Limited (the “Company” or the “Issuer”) proposes to open on Thursday, March 22, 2018, an initial public offering of 77,249,508 Equity Shares of face value of Rs. 5 each for cash at a Price including a Share Premium (the “Offer”) through an Offer for Sale of up to 77,249,508 Equity Shares by ICICI Bank Limited (the “Promoter Selling Shareholder”), including a reservation of up to 3,862,475 Equity Shares for purchase by the ICICI Bank Shareholders for cash at a Price including a Share Premium (“ICICI Bank Shareholders’ Reservation Portion”). The Offer would constitute 23.98% of the Post-Offer Paid-Up Equity Share Capital and the Net Offer (the Offer excluding “ICICI Bank Shareholders’ Reservation Portion”) shall constitute 22.78% of the Post-Offer paid-up Equity Share Capital.
The Price Band has been fixed from Rs. 519 to Rs. 520 per Equity Share. Bids can be made for a minimum lot of 28 Equity Shares and in multiples of 28 Equity Shares thereafter.
The Bid/Offer Period will close on Monday, March 26, 2018. The Promoter Selling Shareholder, in consultation with the Lead Managers, is considering participation by Anchor Investors in accordance with the the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI ICDR Regulations”). The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Issue Opening Date, being March 21, 2018.
The Equity Shares being offered through the Red Herring Prospectus dated March 13, 2018 (the “RHP”) are proposed to be listed on BSE and NSE.
The Book Running Lead Managers (“BRLMs” or “Lead Managers”) to the Offer are DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, Edelweiss Financial Services Limited, IIFL Holdings Limited and SBI Capital Markets Limited. ICICI Securities Limited is acting as the BRLM – Marketing to the Offer.*
The Promoter Selling Shareholder may, in consultation with the Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis, out of which at least one-third shall be available for allocation to domestic Mutual Funds only. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders other than Anchor Investors, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential investors, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.
