ICICI Bank shares fall 1.32% after $1bn bond, staff allotment
Business
ICICI Bank's stock slipped 1.32% to ₹1,424 on Friday, after the bank announced a $1 billion bond issue and gave out new shares to employees under its 2022 stock unit plan.
Even with this drop, the share price is still up 6.41% for the year, though it hasn't quite returned to its July 20, 2026 52-week high of ₹1,480.
ICICI bonds rated BBB and Baa3
The $1 billion bonds are part of ICICI's $7.5 billion Global Medium Term Note Programme and come with BBB and Baa3 ratings from S&P and Moody's.
These bonds will be listed on major exchanges like India INX, NSE IFSC, and Singapore's SGX-ST.
On top of that, 48,983 new shares were allotted to employees this week as part of their rewards program.
The bank remains a heavyweight with a market cap of ₹10,22,088 crore.