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News about ICICI Bank Limited

October 3rd, 2007

The media had reports that ICICI Bank Ltd may raise $ 11billion to fund its expansion abroad and credit growth in the country.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

ICICI Bank Ltd has vide its letter inter-alia stated, “In this regard, please note that the article in the media is not accurate. In the current financial year, ICICI Bank and its subsidiaries have raised approximately USD 6 billion through debt from various sources including loans and bonds. The Bank has also raised approximately USD 5 billion of equity in the current financial year. The Bank will continue to raise debt from international markets from time to time as per its ongoing requirement.”

Entry Filed under: Equity Markets, Banks & NBFC, NSE