ICICI Bank to raise up to Rs 25,000 crore via debt

NEW DELHI: ICICI Bank on Friday said it will raise up to `25,000 crore by issuing securities on a private placement basis to fund increasing lending operations.
It was decided in its annual general meeting.

“Authority to the board of directors to borrow by way of issue of non-convertible securities including but not limited to bonds and non-convertible debentures in one or more tranches of up to Rs 25,000 crore on a private placement basis,“ the bank said in a BSE filing.

The country’s largest private sector lender has reported manifold jump in standalone net profit at `2,024.64 crore for the quarter ended March 31.

The bank had made a net profit of Rs 701.89 crore in the JanuaryMarch quarter of 2015-16.

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