Thursday 24 October 2013

ICICI Bank gains as its arm enters into strategic tie-up with GCA Savvian

ICICI Bank is currently trading at Rs 1034.60, up by 10.10 points or 0.99% from its previous closing of Rs. 1024.50 on the BSE.

The scrip opened at Rs 1025.70 and has touched a high and low of Rs 1047.70 and Rs. 1022.00 respectively. So far 338630 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1236.90 on 28-May-2013 and a 52 week low of Rs 758.80 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs 1027.25 and Rs 958.60 respectively. The current market cap of the company is Rs 119229.35 crore.

The Institutions and Non-Institutions held 62.61 % and 8.23 % respectively.

ICICI Securities, the investment banking arm of ICICI Bank, has entered into a strategic alliance with GCA Savvian Corporation, a leading Japanese independent investment bank, to jointly pursue M&A opportunities in India and Japan. The alliance will enhance both ICICI Securities and GCA Savvian's respective M&A offerings by leveraging each bank's M&A advisory capabilities, deep understanding of local markets as well as their long-standing corporate relationships within those markets to offer high quality advice to clients.

ICICI Securities is a leading full service investment bank with operations in equity markets, corporate finance, M&A advisory services. It has consistently been among top 3 Indian mid-market focused M&A advisory firms. On the other hand, GCA Savvian is a global firm headquartered in Tokyo, Japan and San Francisco, USA providing M&A and capital raising advisory services. It is widely recognized as the leader in cross-border M&A with Japan.

ICICI Bank is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of $122 billion at December 31, 2012. The Bank’s presence currently spans 19 countries, including India.

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