MUMBAI, July 17: ICICI Bank will be coming out with a public issue of 4.12 crore equity shares of Rs 10 each at a premium of Rs 35 per share aggregating Rs 144.38 crore.As per the Reserve Bank of India guidelines, the promoters will have to dilute equity in the new private banks to the public. The 25 per cent offer is being made for listing the shares on the stock exchanges. This offer will be open from August 5 to August 11, 1997.In June, ICICI had taken 1.5 crore shares in ICICI Bank at the same price as the offer price, viz Rs 35 per share. Apart from this in June 1997, ICICI divested 12.48 lakh shares to employees of ICICI Bank, ICICI and its group companies at the offer price. The company will divest the remaining equity to the public later on. Following the merger of ICICI and SCICI, the promoters had obtained 100 per cent equity in the bank.ICICI Bank is one of the new private sector banks for which RBI gave license. The bank has a network of 24 branches in 15 centres covering 12 states. ICICI Bank has a total deposit base of Rs 1347.60 crores as on March 31, 1997. The bank recorded a net profit of Rs 40.12 crores during 1996-97 and its total advances reachedRs 798 crores.ICICI Deputy Managing Director Lalita Gupte said the issue did not have any reservation quota for any groups including non-resident Indians (NRIs) and FIIs.
