Last week, Axis Bank, HDFC Ltd and several other companies launched new shares on in the market. ICICI Bank will be the next to join them by launching an Institutional Share sale.
From the share sale, ICICI Bank hopes to generate $2 billion or 15 Crore INR. This is being done in an attempt to bolster the balance sheet for 2020, which is taking a beating owing to the pandemic.
Last year the Company’s balance sheet stood at ₹1,908.03 Crore close to the first half.
The Bank’s overall financial position is looking good considering the net interest income raise of 20%.