The bank would issue equity shares of Rs 10 each amounting to Rs 8,750 crore (Rs 87.50 billion) for cash at a price to be determined by book building process, ICICI Bank said in a communique to the Bombay Stock Exchange (BSE).
It added that five per cent of the FPO would be reserved for existing shareholders holding shares worth Rs 1 lakh as on today, which is the record date for the issue. The other details relating to the FPO, including the price band, would be announced by the bank in due course, it said.
The lender plans to mop up a total of Rs 20,125 crore (Rs 201.25 billion) from the domestic and international markets, including a green shoe option of 15 per cent, as per the draft Red Herring Prospectus filed with the market regulator Securities and Exchange Board of India.