An elephant of an equity offering from ICICI Bank

Indian bank trumpets jumbo equity offering.

India's largest private sector bank executed one of the most successful follow-on offerings of the year yesterday December 6, raising $1.52 billion from a combined ADR and ordinary share offering.

The Merrill Lynch and Morgan Stanley led deal for ICICI Bank set a number of new precedents for the Indian market. The deal not only ranks as the largest ever primary equity offering from the country, but is also the second largest follow-on primary capital...

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