New Delhi:ICICI Securities on Tuesday said it has raised Rs3,515 crore at the issue price of Rs520 per share from its recently concluded initial public offering (IPO).
The ICICI Securities IPO closed on 26 March after three days of bidding in a price band of Rs519-520. A total of 67,593,245 equity shares have been allotted at an offer price of Rs520 apiece, the upper end of the price band, aggregating to Rs3,514.85 crore, ICICI Securities said.
Shares of the company will list on the exchanges on Wednesday, BSE and NSE said in separate circulars.
Earlier, ICICI Securities had reduced the size of its initial public offer (IPO) to little over Rs3,500 crore after the sale elicited a sluggish response, especially from high networth individuals.
The share sale of the leading brokerage firm—which was to raise up to Rs4,016 crore—received around 88% subscription, including the anchor portion, on the last day of the bidding.
DSP Merrill Lynch, ICICI Securities, Citigroup Global Markets India, CLSA India, Edelweiss Financial Services, IIFL Holdings and SBI Capital Markets managed the issue.