ICICI Securities, the investment banking arm of ICICI Bank, would come out with initial public offer in due course, said the CEO of ICICI Mr K V Kamath. "The IPO will come in due course. We are not in a hurry," said Mr Kamath. He said the bank has not decided on the size of the IPO and when the market conditions are favourable, the bank would consider the IPO. In January, the board of ICICI Securities had approved the initial public offer and private placement of shares to one or more institutional investors. Soon after the decision, ICICI Bank Joint Managing Director and CFO Ms Chanda Kochhar had said, the sh ares of ICICI Securities would be listed on the bourses in about six months. The board had decided to offload 15 per cent of its shares to retail or institutional investors. ICICI Securities, having an equity capital of Rs 61 crore, is a major player in retail broking and has posted revenues of Rs 527 crore during the first nine months of the current fiscal while profit...
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