The issue consists of an offer for sale of up to 7,72,49,508 equity shares by promoter ICICI Bank, which includes reservation of up to 38,62,475 shares for purchase by the ICICI Bank shareholders.
The initial public offering of ICICI Securities, the subsidiary of country's largest private sector lender ICICI Bank, has been subscribed 78 percent so far on final day.
The Rs 4,017-crore offer has received bids for 3.45 crore equity shares against total issue size of 4.42 crore shares on Monday, as per data available with the NSE website.
The reserved portion of qualified institutional buyers (QIBs) has been fully subscribed while the category reserved for non-institutional investors subscribed 36 percent and retail investors 87 percent.
The issue consists of an offer for sale of up to 7,72,49,508 equity shares by promoter ICICI Bank, which includes reservation of up to 38,62,475 shares for purchase by the ICICI Bank shareholders.
The offer would constitute 23.98 percent of the post-offer paid-up equity share capital.
The country's largest private sector lender is targeted to raise Rs 4,009.25-4,016.97 crore through the issue of ICICI Securities, at a price band of Rs 519-520 per share, respectively.
Out of which, ICICI Securities already raised Rs 1,717 crore through anchor investors' portion by making allotment of 3,30,24,165 equity shares to 28 anchor investors at a price of Rs 520 per share on Wednesday.
Headquartered in Mumbai, ICICI securities offers a wide range of financial services including brokerage, financial product distribution and investment banking and focuses on both retail and institutional clients.
Equity shares are proposed to be listed on BSE and NSE.
The book running lead managers to the offer are DSP Merrill Lynch, Citigroup Global Markets India, CLSA India, Edelweiss Financial Services, IIFL Holdings and SBI Capital Markets. ICICI Securities is acting as the book running lead manager to the offer.