The shares of the leading stock brokerage house ICICI Securities will list on both NSE and BSE on Wednesday i.e. April 4, 2018. The IPO issue remained opened for public subscription from March 22 to March 26. The price band was fixed at Rs. 519-520 per share.
The share sale of the company launched to raise Rs. 4,016 crore received only 88% subscription that includes anchor investments. HNIs showed a weak response to the issue of ICICI Securities as a result the company reduced the IPO size to over Rs. 3500 crore.
In a statement the brokerage firm said it has "successfully closed its proposed Offer for Sale (OFS) and raised around Rs 3,500 crore".
Through the issue, the parent company ICICI Bank offloaded shares worth Rs 35-billion in the brokerage firm. The proceeds from the issue will help the bank manage its capital requirement for 2017-18.