ICICI Bank Will Come Out With IPO In Due Course

ICICI Securities, the investment-banking subsidiary of ICICI Bank, will come out with initial public offer in due course, said the CEO of ICICI Mr K V Kamath. The bank has not determined on the size of the IPO and when the market conditions are favourable, the bank will consider the IPO. In January, the board of ICICI Securities had cleared the initial public offer and private placement of shares to one or more institutional investors. The board had decided to divest 15 per cent of its shares to retail or institutional investors. ICICI Securities, having an equity capital of Rs 61 crore, is a major player in retail broking and has registered revenues of Rs 527 crore during the first nine months of the current fiscal while profits were at Rs 108 crore in the same period.