Date:10/12/2005 URL: http://www.thehindubusinessline.com/2005/12/10/stories/2005121003441400.htm

Back Response to public issue satisfies ICICI Bank

Our Bureau

Kolkata , Dec. 9

ICICI Bank, which has fixed the price of its domestic issue at Rs 525 a share, has drawn a "satisfactory" level of retail subscription, Mr K.V. Kamath, MD & CEO, remarked here today.

The views of the ICICI Bank brass may be seen in the context of an assessment, expressed in some quarters, that retail investors were not really inclined to subscribe to the offer. "We did see some serious subscription. Both retail investors and HNIs displayed substantial interest in the issue," Mr Kamath said.

He was here in connection with a meeting organised by FICCI.

ICICI Bank had set a price band of Rs 505-525 for the Rs 5,000 crore-plus issue, inclusive of a green-shoe option. On Friday, the ICICI Bank stock ended at Rs 549.30 on the NSE against the previous day's close of Rs 540.20.