Date:20/12/2005 URL: http://www.thehindubusinessline.com/2005/12/20/stories/2005122002471500.htm

Back FIIs get highest allotment in ICICI Bank follow-up issue

Our Bureau

Mumbai , Dec. 19

Foreign institutional investors (FIIs) have been alloted the highest number of shares in ICICI Bank's recently concluded follow-up issue.

FIIs were allotted 4.41 crore shares for Rs 525 each (a total value of Rs 2,315 crore). ICICI Bank had come out with public issue of 11.14 crore shares. The second highest number of shares (2.88 crore) was allotted to retail investors.

However, this category was under-subscribed despite shares being offered at a discount of 5 per cent on the issue price of Rs 525.

In the retail category, the issue was subscribed 0.77 times. For the existing retail shareholders, the issue was subscribed 0.79 times.

Overall, the issue received six times more bids than the issue size. The highest bids were received in the institutional investor segment where the issue received 13.64 times more bids.

In the non-institutional investor segment, the issue received 1.67 times more bids. The shares of the follow-up issue were listed on Monday.

ICICI Bank shares closed on Monday at Rs 584.80, down 0.51 per cent on the BSE. The volumes on the BSE and NSE were substantially higher than Friday's close.

On the BSE, 28.32 lakh shares were traded and on the NSE, 45.83 lakh shares were traded.

Of these shares, 55.11 per cent were for delivery on the BSE. The remaining 47.65 per cent was marked for delivery on the NSE.