ICICI launches Rs 600 cr issue

MUMBAI, MAR 10: In the seventh tranche under the series `ICICI Safety Bonds- March ’99’, ICICI has launched unsecured redeemable bonds in the nature of debentures aggregating Rs 300 crore with a right to retain oversubscription of up to Rs 300 crore. The issue which opened for subscription on March 10 will remain open till March 30, 1999.

Under the Umbrella Prospectus approved by the SEBI, ICICI is allowed to raise up to Rs 3,000 crore with a right to retain over subscription up to Rs 3,000 crore in tranches over a one year period. ICICI has made six public offerings under the this prospectus and received good response from the household savers.