This Article is From Aug 11, 2020

ICICI Bank To Raise Rs 15,000 Crore Through Share Sale; Stock Hits Over 2-Week High

ICICI Bank Share Price News: A total of 17.62 lakh ICICI Bank shares changed hands on Monday, as against an average of 17.55 lakh in the past two weeks.

ICICI Bank To Raise Rs 15,000 Crore Through Share Sale; Stock Hits Over 2-Week High

ICICI Bank Share Price: The stock traded in high volumes on Tuesday

Highlights

  • ICICI Bank shares rise nearly 3% on Tuesday
  • On Monday, ICICI Bank launched share sale to raise up to Rs 15,000 crore
  • Floor price for share sale to qualified institutional investors at Rs 351

ICICI Bank Share Price Today: ICICI Bank shares climbed up nearly 3 per cent to a more than two-week high amid high volumes on Tuesday, as the private sector lender launched a share sale to raise up to Rs 15,000 crore. On the BSE, the ICICI Bank stock rose 2.90 per cent to quote at Rs 374.15 apiece at the strongest level recorded in the first half of the session, compared to its previous close of Rs 363.60. ICICI Bank shares were among the top gainers in benchmark indices Sensex and Nifty in morning deals. 

In a regulatory filing late on Monday, ICICI Bank said it had set a floor price of Rs 351.36 through a proposed qualified institutional placement (QIP) of shares.

The price was at a discount of 3.37 per cent to Monday's closing price.

At 12:02 pm, ICICI Bank shares traded 0.78 per cent higher at Rs 366.45 apiece on the BSE, in line with a 0.57 per cent gain in the benchmark Sensex index. 

By then, a total of 17.62 lakh ICICI Bank shares had changed hands on Monday, as against an average of 17.55 lakh in the past two weeks. (Track ICICI Bank Share Price Here)

Last month, ICICI Bank reported a 36.22 per cent jump in net profit to Rs 2,599.15 crore in the quarter ended June 30, missing analysts' estimates. The lender's total income from operations moved up 21.78 per cent to Rs 26,066.95 crore in the first quarter of current financial year.