ICICI Securities OFS subscribed 4.4 times on heavy institutional interest

The share sale in on Wednesday generated over four times demand than the shares on offer.

Institutional investors placed bids for 28 million shares as against 6.4 million shares on offer in the offer for sale (OFS).

Most of the bids came in at Rs 460 per share. Shares of ended at Rs 477 in the secondary market.

Another 712,141 shares meant for retail investors will be auctioned on Thursday.

The floor price for the OFS has been set at Rs 440 per share.

Parent is offloading 2.21 per cent stake in its broking and investment banking arm through the OFS. Currently, holds about 77.2 per cent stake in The share sale will help the bank comply with the minimum public shareholding norms.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link
#ICICI #Securities #OFS #subscribed #times #heavy #institutional #interest

Leave a Comment