/ ICICI Bank Soars As Its JV Files Draft Prospectus ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 17 July 2017

ICICI Bank stock soared during Monday’s trade as ICICI Bank’s subsidiary  joint venture (JV) with Canada-based Fairfax Financial Holdings, ICICI Lombard General Insurance Company, has filed the draft prospectus with SEBI to dilute nearly 19% stake through an IPO, reported a daily.

The offer includes a proposed reservation of up to 43,12,359 equity shares (5% of the offer) for individual and Hindu Undivided Family (HUF) shareholders of ICICI Bank.

The stock soared 1.1% at Rs 301.35 per share. The stock on NSE attracted a traded volume of 25,57,339 shares and a traded value of 7,697 lakh.

The company has been maintaining a dividend payout of 23.65%.

On a yearly basis, the stock has given 26% return.

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