ICICI Bank Raises Rs 2,827 Crore By Issuing Bonds, Stock Edges Lower

ICICI Bank Share Price: On Wednesday, June 16, ICICI Bank opened on the BSE at Rs 645.90, inching to an intra day high of Rs 649, and an intra day low of Rs 637.55

Share price of ICICI Bank edged lower by around one per cent on Wednesday, June 16, after the country's second-largest private bank raised a sum of Rs 2,827 crore by issuing bonds on private placement basis. On Wednesday, June 16, ICICI Bank opened on the BSE at Rs 645.90, inching to an intra day high of Rs 649, and an intra day low of Rs 637.55, throughout the trading session today. The bonds carry a coupon rate of 6.45 per cent per annum, which is payable annually. The bonds were issued at par. According to a regulatory filing by the bank to the stock exchanges, there are no special rights or privileges attached to the bonds. The allotment date is June 15 and the redemption date is set as June 15, 2028. The bonds will be listed in the relevant segment of the National Stock Exchange (NSE). Additionally, on April 24, 2021, ICICI Bank's board of directors had approved the fund-raising through the issuance of debt securities. "Pursuant to the same, the bank has allotted 28,274 senior unsecured redeemable long-term bonds in the nature of debentures aggregating to Rs 2,827.40 crore on a private placement basis," said the lender in regulatory filings at stock exchanges.