ICICI securities IPO details and application process

The IPO of ICICI Securities Ltd opens on 22 March and closes on 26 March. The company is offering shares in the price band of Rs 519 to Rs 520. The company hopes to raise Rs 4,016 crore at the upper end of the price band valuing the company at Rs 16,751 crore.

About the company
ICICI Securities Ltd offers a range of financial services such as investment banking, institutional broking, retail broking, private wealth management, and financial product distribution.

Check this post by @Karthik for a brief analysis of ICICI Secutrities

Purpose of the issue
The entire proceeds of issue will go to ICICI Bank.

Issue details
The offer consists of an offer for sale (OFS) of 7,72,49,508 equity shares out of which 38,62,475 will be reserved for the shareholders of ICIC Bank.

IPO schedule
Issue opens - March 22th
Issue close - March 26th
Issue size - ₹ 4,016 crores at the upper end of the price band.
Listing on both NSE and BSE
Retail portion - 35%
Bid lot - 28 shares

Basis of allotment - 2 April
Refunds - 3 April
Credit of shares - 4 April
Listing - 5 April

Follow these steps to apply for an IPO

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stay away from all ipos …markets to fall heavily