ICICI to dilute equity: seeks shareholders nod for issuing shares
09 May 2007
Mumbai: India''s largest private lender ICICI bank will seek shareholders approval for issuing shares of up to 25 per cent stake in the bank and for reducing the authorised share capital to Rs1,775 crore from Rs1,900 crore.
The bank said the authorised capital will be changed to Rs1775 crore, divided into 127.50 crore equity shares of Rs10 each, 150 lakh preference shares of Rs100 each and 350 preference shares of Rs one crore each.
The
company would also seek shareholders approval through postal
ballot for issuing up to 25 per cent of the authorised share capital by way of
preferential allotment, private placement, it added.