ICICI Bank stock rises as its joint venture files draft prospectus
DSIJ Intelligence / 17 Jul 2017
A daily reported that ICICI Bank stock soared during Monday’s trade as ICICI Bank’s subsidiary joint venture (JV) with Canada based Fair fax Financial Holdings, ICICI Lombard General Insurance Company, has filed a draft prospectus with SEBI to dilute nearly 19% stake through an IPO.
A daily reported that ICICI Bank stock soared during Monday’s trade as ICICI Bank’s subsidiary joint venture (JV) with Canada based Fair fax Financial Holdings, ICICI Lombard General Insurance Company, has filed a draft prospectus with SEBI to dilute nearly 19% stake through an IPO.
The offer includes a proposed reservation of up to 4,312,359 equity shares (5% of the offer) for individual and Hindu Undivided Family (HUF) shareholders of ICICI Bank.
At Rs 301.35 per share, the stock soared 1.1%. The stock on the NSE attracted a traded volume of 25,57,339 shares and a traded value of 7,697 lakh.
Adividend payout of 23.65% is being maintained by ICICI bank.
On yearly basis, the stock has given 26% return.
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