ICICI Bank will be diluting stake in its subsidiary company ‘ICICI Securities’. The broking arm of the bank has filed a Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for a public offer of up to 64,428,280 equity shares of face value of Rs 5 each, representing approximately 20.0% of its equity share capital as on date, for cash through an offer for sale of up to 64,428,280 equity shares by ICICI Bank. The offer includes a proposed reservation of up to 3,221,414 Equity Shares (up to 5.0% of the offer) for individual and Hindu Undivided Family (HUF) shareholders of the bank.
ICICI Bank is engaged in providing a range of banking and financial services, including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products etc.
