The bond sale comes on the heels of the Reserve Bank of India's announcement last week allowing bonds sold by lenders to be exempt from mandatory reserve requirements if the proceeds are lent to the infrastructure sector.
ICICI Bank is expected to raise at least Rs 500 crore (USD 83.24 million) via 10-year bonds intended towards infrastructure lending at a semi-annual coupon of 9.15 percent, two sources said on Friday.
The deal could be expanded via a greenshoe option, the two sources said.
The bond sale comes on the heels of the Reserve Bank of India's announcement last week allowing bonds sold by lenders to be exempt from mandatory reserve requirements if the proceeds are lent to the infrastructure sector.
ICICI Bank stock price
On July 25, 2014, ICICI Bank closed at Rs 1475.90, down Rs 29.35, or 1.95 percent. The 52-week high of the share was Rs 1590.35 and the 52-week low was Rs 758.80.
The company's trailing 12-month (TTM) EPS was at Rs 84.83 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 17.4. The latest book value of the company is Rs 633.00 per share. At current value, the price-to-book value of the company is 2.33.
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