ICICI Bank prices public issue shares at Rs940

ICICI Bank Ltd has priced its shares of its follow-on public issue worth Rs8,750 crore that closed on 22 June, 2007, at Rs940 per share - a premium of 3.6 per cent to the average closing price since the announcement of the issue on April 28, 2007. The issue has a green shoe option of Rs1,312.5 crore.

The issue was part of ICICI Bank''s consolidated capital raising exercise of Rs17,500 crore comprising ADRs and a domestic issue of equal size, with a green shoe option of Rs2,625 crore, the largest public capital raised in the country so far.

The Bank''s American Depositary Share (ADS) offering of $2.14 billion has been priced at $49.25 per ADS, and translates into a price of approximately Rs1,002.5 per equity share, representing a premium of approximately 6.6 per cent over the domestic issue price.

Each ADS represents two equity shares of the Bank. The ADS offering has a green shoe option of $ 0.32 billion.