ICICI Bank is planning to go for sponsored American Depository Receipt (ADR) issue of over $200 million shortly. The bank’s board is meeting on December 13 to finalise the issue, a late evening statement issued by the bank said on Monday.Sources said the bank was aiming to complete the issue during the current fiscal, and would call for an extraordinary general meeting (EGM) to seek shareholder approval for the purpose.Currently, the bank’s combined FII and FDI holding has reached 71 per cent against a maximum permissible limit of 74 per cent. The bank’s existing ADR holding is around 22 per cent. On Monday, the ICICI Bank stock closed at Rs 356.90 at the BSE, up 1 per cent from its previous close.
