Shares of ICICI Bank have surged 2% to Rs 248 on the BSE after the private loan specialist chose to bring Rs 25,000 crore up in tranches by means of private position of bonds, debentures and securities, including bonds and non-convertible debentures (NCDs).Amid the AGM, the bank will look for endorsement from shareholders to raise up to Rs 25,000 crore. The capital will be raised over a range of one year from the date of going of the determination.
ICICI Bank said it has acquired Rs 6,500 crore by method for issue of non-convertible debentures on private arrangement premise subsequent to the last AGM till May 13, 2016.
The stock opened at Rs 244 and touched a high of Rs 250 on the BSE. An aggregate of 315,225 shares changed hands on the BSE.
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