ICICI Bank is planning to raise Rs 25000 crore by way of issue of non-convertible securities including but not limited to bonds and non-convertible debentures in one or more tranches. During the Annual General Meeting (AGM) on July 11, the bank will seek shareholders nod to raise up to Rs 25,000 crore. The capital will be raised over a period of one year from the date of passing of the resolution.
The bank at its previous AGM on June 29, 2015 had approved a limit of Rs 50,000 crore for borrowings through various securities including bonds and non-convertible debentures on private placement basis. However, the bank has borrowed Rs 6,500 crore by way of issue of non-convertible debentures on private placement basis since the last AGM till May 13, 2016.
ICICI Bank, India’s largest private sector bank, is planning to raise Rs 25,000 crore by private placement of bonds, debentures and securities, including bonds and non-convertible debentures (NCDs).
