Shares in the ICICI Securities IPO are being offered in a price band of Rs519-520 apiece. Photo: Hemant Mishra/MintMumbai: The Rs4,017 crore initial public offering (IPO) of ICICI Securities Ltd, the brokerage and investment banking arm of ICICI Bank Ltd, witnessed a subscription of 29% on Thursday, the opening day of the sale. ICICI Securities has set a price band of Rs519-520 per share for the IPO. The ICICI Securities IPO is a pure secondary offering that will see the parent ICICI Bank sell a total of 77.24 million shares. ICICI Securities offers financial services such as retail and institutional broking, financial product distribution, investment banking, merchant banking and advisory services to financial institutions, corporates, retail investors and HNIs.

Source: Mint March 22, 2018 16:19 UTC