ICICI Bank sets floor price for QIP, stock gains 3%
Shares of India’s second-largest private sector lender ICICI Bank gained almost 3% on Tuesday after the bank launched its Qualified Institutional Placement (QIP), setting the floor price at Rs 351.36 per equity share.
The floor price for qualified institutional placement of shares is at a discount of over 3% to Monday’s close of Rs 363.60 on the BSE, as per the SEBI formula.
The equity offering by ICICI bank will be the fourth in the last two months, in which a slew of lenders including HDFC…
