ICICI Securities, a subsidiary of private sector lender ICICI Bank, has received markets regulator Sebi’s go-ahead to raise an estimated Rs 3,000- 4,000 crore through an initial public offering.
The company had filed its draft papers with Securities and Exchange Board of India (Sebi) in December and received ‘observations’ from the regulator on February 2, as per the latest update with the markets watchdog.
The ‘observations’ are very important to any company for launching public issues like initial public offer (IPO), follow-on public offer (FPO) and rights issue.
Going by the draft red herring prospectus (DRHP), the public issue comprises sale of 64,428,280 equity shares, amounting to 20 percent stake, by ICICI Bank.
As carried in MC