ICICI Securities Limited (the “Company” or the “Issuer”) proposes to open on Thursday, March 22, 2018, an initial public offering of 77,249,508 Equity Shares of face value of Rs. 5 each for cash at a Price including a Share Premium (the “Offer”) through an Offer for Sale of up to 77,249,508 Equity Shares by ICICI Bank Limited (the “Promoter Selling Shareholder”), including a reservation of up to 3,862,475 Equity Shares forpurchase by the ICICI Bank Shareholders for cash at a Price including a Share Premium (“ICICI Bank Shareholders’ Reservation Portion”). The Offer would constitute 23.98% of the Post- Offer Paid-Up Equity Share Capital and the Net Offer (the Offer excluding “ICICI Bank Shareholders’ Reservation Portion”) shall constitute 22.78% of the Post-Offer paid-up Equity Share Capital.
The Price Band has been fixed from Rs. 519 to Rs. 520 per Equity Share. Bids can be made for a minimum lot of 28 Equity Shares and in multiples of 28 Equity Shares thereafter. The Bid/Offer Period will close on Monday, March 26, 2018. The Promoter Selling Shareholder,
in consultation with the Lead Managers, is considering participation by Anchor Investors in accordance with the the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI ICDR Regulations”). The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Issue Opening Date, being March 21, 2018.
The Equity Shares being offered through the Red Herring Prospectus dated March 13, 2018 (the “RHP”) are proposed to be listed on BSE and NSE. The Book Running Lead Managers (“BRLMs” or “Lead Managers”) to the Offer are DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, Edelweiss Financial Services Limited, IIFL Holdings Limited and SBI Capital Markets Limited. ICICI Securities Limited is acting as the BRLM – Marketing to the Offer.*
The Promoter Selling Shareholder may, in consultation with the Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis, out of which at least one-third shall be available for allocation to domestic Mutual Funds only. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders other than Anchor Investors, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with SEBI ICDR Regulations, subject to
valid Bids being received at or above the Offer Price. All potential investors, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.
In compliance with the proviso to Regulation 21A(1) of the SEBI Merchant Bankers Regulations, read with the proviso to Regulation 5(3) of the SEBI ICDR Regulations, ICICI Securities Limited will be involved only in marketing of the Offer as the BRLM-Marketing. For details on the manner in which conflicts, if any, are proposed to be addressed, please see the section entitled “Other Regulatory and Statutory Disclosures – Disclosure in respect of our Company acting as the BRLM-Marketing for the Offer” on page 380 of the RHP.
Disclaimer: ICICI Securities Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a red herring prospectus (“RHP”) with the Registrar of Companies, Maharashtra at Mumbai. The RHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the lead managers, DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, Edelweiss Financial Services Limited, IIFL Holdings Limited, and SBI Capital Markets Limited at www.ml-india.com, www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, www.india.clsa.com, www.edelweissfin.com, www.iiflcap.com, and www.sbicaps.com respectively and on the website of ICICI Securities Limited (in its capacity as BRLM-Marketing) at www.icicisecurities.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section entitled Risk Factors on page 16 of the RHP.
This announcement is not an offer of securities for sale in the United States. Any securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or any United States state securities laws, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable United States state securities laws. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.
Capitalised terms not otherwise defined in this press release shall have the meanings given to them in the RHP.
