ICICI Bank Ltd has fixed issue price for public offering at Rs 280 per equity share.

The bidding process for its domestic equity issue of Rs 3,050 crore (Rs 30.50 billion) closed on Wednesday.
 
The total demand for the issue at various price levels in the price band of Rs 255 to Rs 295 per share was estimated at around Rs 17,900 crore (Rs 179 billion) implying subscription of 5.8 times, ICICI Bank said in a release on Thursday.

The issue was oversubscribed about 4.2 times at the issue price level.

The determination of allocation to qualified institutional buyers was in process, the release said.

The public float has a green shoe option of Rs 450 crore (Rs 4.50 billion) which would be used to stablise price of ICICI Bank stock if it falls below the issue price.

The issue which opened for bidding on April 2 was oversubscribed by 1.28 times on the first day itself.

ICICI Bank scrip was currently quoting at Rs 288.25 on the BSE.