ICICI Bank Ltd has received approval
from the Sebi to list its stock brokerage unit, ICICI Securities Ltd. ICICI
Securities had filed its DRHPs with SEBI in December and received observations
from the regulator on Feb 2, as per the latest update with the markets regulator.
As per the DRHP filed by the company,
the IPO comprises sale of 64,428,280 equity shares, amounting to 20% stake, by
ICICI Bank. The IPO includes a reservation of up to 32.21 lakh shares for
individual as well as HUF shareholders of ICICI Bank. The IPO is expected to
garner Rs. 3,000 to 4,000 crore.
SBI Capital Markets, DSP Merrill
Lynch, Citigroup Global Markets India, IIFL Holdings, Edelweiss Financial
Services and CLSA India are book running lead managers to the issue.