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ICICI Securities shares list at 17% discount on BSE

02:35 PM Apr 04, 2018 | Team Udayavani |

New Delhi: Shares of ICICI Securities on Wednesday made a muted debut on bourses, at Rs 431.10 on the BSE, with a discount of 17.09 percent over its issue price of Rs 520.

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Within minutes of listing, the stock touched a high of Rs 461.95 and a low of Rs 431.10 on the BSE.

On NSE, the stock opened at Rs 435, with a discount of 16.34 percent over its issue price. It touched a high of Rs 459 and a low of Rs 435.

The company had raised Rs 3,515 crore from its recently concluded initial public offer (IPO).

A total of 67,593,245 equity shares have been allotted at an offer price of Rs 520 apiece, the upper end of the price band, aggregating to Rs 3,514.85 crore.

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Earlier, ICICI Securities had reduced the size of its IPO to a little over Rs 3,500 crore after the sale elicited a sluggish response, especially from high net worth individuals.

The share sale of the leading brokerage firm – which was to raise up to Rs 4,016 crore – received around 88 percent subscription, including the anchor portion, on the last day of the bidding.

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