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ICICI Bank FPO Bidding Details

June 19, 2007

For long term retail individual investors who are willing to hold the stock, here is how you can bid for the ICICI Bank Follow On Public Offering.

Payment option I (Part payment)

  • Retail bidders: Rs. 250 per Equity Share on application. Rs. 250 on allotment and the balance on call to be made within six months of allotment.
  • The retail client can maximum bid for 114 x Rs. 885 = 1,00,890 wherein he will have to pay 114 x Rs. 250 = 28,500/-.
  • At lower side, client can bid for 108 x Rs. 950 = 1,02,600 wherein he will have to pay 108 x Rs. 250 = 27,000/-

In case a client applies for first bid of 114 shares and second bid for 108 shares cheque amount would be for 114 x 250 = 28,500 i.e the maximum no of shares x Rs 250.

Payment option II (Full payment)

  • Retail customer can bid for maximum 114 shares at bid amount of Rs. 885/- (lower price band), whereby bid value which will go in Exchange will be Rs. 1,00,890/- (114 x 885) and bank account will be debited for Rs. 95,190/- (114 x 835) [Rs 835 after considering discount of Rs. 50].
  • Further, retail client can bid for 108 shares at bid amount of Rs. 950/- (upper price band) whereby bid value which will go in Exchange will be Rs. 1,02,600/- (108 x 950) and bank account will be debited for Rs. 97,200/- (108 x 900) [Rs 900 after considering discount of Rs. 50].

ICICI creates confusion on bidding process and we have to clarify it for our readers.

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