ICICI Securities IPO receives good response

The IPO of ICICI Securities receives 75 per cent subscription at 15:15 hours on last day of offer.

The company which is a subsidiary of ICICI Bank launched its Initial Public Offering on March 22 and closes at 17:00 hours on Monday, March 26, 2018.

With 4,42,25,343 equity share of face value Rs. 5 per share, the company aims to raise around Rs. 4,000 crore. The price band of the IPO is Rs. 519.00-520.00 and minimum lot size is 28 shares.

At 15:15 hours, on Monday, a total of 3,33,46,208 bids were received. Of this 62,13,620 bid were received at cut-off price. The IPO offer was subscribed 75 per cent, according to data provided by NSE.

ICICI Securities is a brokerage firm based in Mumbai. It also provides services including distribution of financial product, investment banking to retail and institutional customers.