ICICI Bank Ltd. plans to raise ₹15,000 crore in capital through issuance of securities to shore up its capital base. “The board has approved raising of funds for an amount aggregating up to ₹15,000 crore in one or more tranches by way of issuance of securities,” the bank said in a filing with the stock exchanges. Deven Choksey, MD & CEO, K.R. Choksey Shares & Securities, said, “With this capital raising, the tier 1 capital of the bank will increase by 198 basis points to 16.69%. There will be an equity dilution of 6.3% and its net worth will rise 12.9%.”
