ICICI Bank FPO shares list, partly paid shares not to list in Stock Exchanges

ICICI Bank Ltd has announced that the Committee of the Board of Directors of the Bank at its Meeting held on July 05, 2007 approved the allotment of the shares to the applicants in the public issue of shares of the Bank that closed on June 22, 2007, based on the Basis of Allocation, as approved by the National Stock Exchange of India Ltd. The Committee also allotted the equity shares underlying the American Depositary Share (ADS) issue undertaken simultaneously by the Bank. The fully-paid and partly-paid shares were credited to the beneficiaries' accounts on July 05, 2007.

The listing permission for the shares issued in the public issue in India was received on July 05, 2007 and the fully-paid shares were permitted to trade today by the NSE and the BSE. At present, as per the terms mentioned in the Prospectus, the partly-paid shares cannot be traded on the exchanges until the requisite additional amounts are received. In respect of non-institutional bidders, the partly paid shares will not trade and fully paid shares will be credited to their accounts following receipt of the balance amount, within the time specified in the Prospectus. Partly paid shares issued to retail bidders will trade only on receipt of the additional amounts due and receipt of trading approvals for the partly paid shares following receipt of such amount, within the time specified in the Prospectus. The concerned investors will receive in due course the notice for payment of balance amount payable (where applicable), CAN-cum-refund orders, allotment advice, etc.

The stock closed the day at Rs.981.55, down by Rs.23.85 or 2.37%. The stock hit an intraday high of Rs.995 and low of Rs.962. The total traded quantity was 3252044 compared to 2 week average of 397447.

Source : Equity Bulls

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