ICICI Bank to raise Rs 20,000 cr in June

Biggest fund-raising by an Indian firm: Rs 15,000cr public offer, Rs 5,000cr ADR.

ICICI Bank, the country’s second largest bank, will raise Rs 20,000 crore in June this year - a combination of Rs 15,000 crore follow-on public offer in the domestic market and Rs 5,000 crore American Depository Receipts issue. This is the biggest-ever fund-raising plan by an Indian bank.

The bank will also consider exercising a greenshoe option, which could almost double the bank’s net worth of Rs 24,313 crore as on March 31, 2007.

Read more at Business Standard