The floor price is set at Rs.29.98 per share
According to Aditya Birla Capital Ltd., the preferential issuance would take place at a cost of Rs 165.1 per equity share and is pending approval from shareholders.
The floor price for the two-day OFS is set at ₹225 per share.
On the sectoral front, Nifty Bank and Financial Services are dragging down the chart.
Markets may continue to see buying.
The bank chose TCS BaNCS for its future-proof event-based streaming architecture.
ICICI Bank can retain a stake of more than 30% but keep it below 48.02% of the company’s paid-up capital.
Recommendation: Add; Target Price: Rs 165
ICICI Lombard shares reserved its losses after hitting 52 week low to Rs 1049 on NSE in March. However, in the last 1 month, it has gained 13%.
Sensex surges 400 points; Nifty above 18,600; all index stocks gain; Nifty Bank at record high