Bangalore, Mar 30: ICICI Bank has given retail investors an option to pay Rs 150 per share on application and balance on call for the book-building public issue of the bank which opens on April 2. "The retail investors, who are allotted 25 per cent of the shares, have an option to pay Rs 150 per share on application," ICICI Senior General Manager and Head of Corporate Banking Balaji Swaminathan informed reporters during a roadshow for the bank's public issue. He said the bank has introduced the Green Shoe Option, through which it can allocate additional equity shares up to Rs 450 crore and operate a price stabilisation mechanism post-listing, with DSP Merill Lynch as the stabilising agent.
"The agent will ensure intervention in the market to buy shares if it is quoted below the listing price for a period of one month," Swaminathan said.
The issue, through the book-building route, has a size of Rs 3,500 crore with a price band between Rs 255 and Rs 295 per equity share.
Bureau Report