ICICI Bank to consider fundraising in board meeting on April 22

17 Apr 2023 , 03:23 PM

One of the largest private sector lenders of the country, ICICI Bank said it will consider the fundraising by issuing debt securities at its upcoming board meeting this week.

The company in its exchange communication said that, ‘fund raising by way of issuance of debt securities including non-convertible debentures/bonds/notes/offshore certificate of deposits in single/multiple tranches in any currency through public/private placement and buyback of securities within the limits that the Board is authorised to approve under applicable law.’

It has also raised Rs 5000 crore earlier through bonds to fund business growth. The bank has allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating to Rs 5,000 crore on private placement basis, the date of allotment being December 12, 2022, it said in a regulatory filing.

The aforementioned fundraising can be made through public or private placement.

ICICI Bank will also consider buyback of securities within the limits that the Board is authorised to approve under applicable law, it stated in a filing on April 17, 2023.