Shares in ICICI Bank in intra-day trade on July 6, 2020 rallied close to 2% on fund raising plans. At 9:38 am, the stock of private sector lender was trading higher by 1.04% at Rs. 364.75 per share on the BSE, while it made an early high of Rs. 368.
On July 8, the company's board will meet to deliberate and give its go-ahead to the bank's fund raising plan.
As it is the trading opportunity for designated persons that includes bank's directors stands discontinued with effect from July 1 and will continue until August 2, 2020.
The board will consider the issue of equity shares and/or other equity-linked securities, through permissible mode(s) including but not limited to a private placement, preferential issue, qualified institutions placement, further public offer, etc., or any combination thereof, subject to shareholders' approval and regulatory and other approvals as may be required, the release from the bank said.