Business

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

   Download Android App    Share in      FullScreen   CheckVideos

On Wednesday, shares of ICICI Bank settled 0.79 percent lower at Rs 639.95 each on the BSE.Share price of ICICI Bank edged lower by around one per cent on Wednesday, June 16, after the nation's second-largest personal bank raised a sum of Rs 2,827 crore by releasing bonds on personal positioning 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 bring a discount coupon rate of 6.45 per cent per annum, which is payable yearly.

The bonds were issued at par.According to a regulative filing by the bank to the stock market, there are no special rights or benefits connected to the bonds.

The allocation date is June 15 and the redemption date is set as June 15, 2028.

The bonds will be noted in the appropriate sector of the National Stock Exchange (NSE).

In addition, on April 24, 2021, ICICI Bank's board of directors had authorized the fund-raising through the issuance of financial obligation securities.

Pursuant to the exact same, the bank has actually allocated 28,274 senior unsecured redeemable long-lasting bonds in the nature of debentures aggregating to Rs 2,827.40 crore on a private placement basis, said the loan provider in regulative filings at stock exchanges.The bank stated in a stock exchange filing that it set aside 28,274 senior unsecured redeemable long-lasting bonds in the nature of debentures aggregating to an amount of Rs 2,827.40 crore, on a private positioning basis.

Banks have actually been raising capital in order to insulate them from the surge of bad loans amid the COVID-19 pandemic.On the NSE, ICICI Bank opened at Rs 644.90, signing up an intra day high of Rs 649.20 and an intra day low of Rs 637.60, throughout the trading session.

On Wednesday, shares of ICICI Bank settled 0.79 percent lower at Rs 639.95 apiece on the BSE.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Business


20