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| ICICI Bank Limited |
| ICICI Towers Bandra-Kurla Complex, Mumbai, India 400 051 |
| Business Description | The company is a private sector commercial bank organized under the laws of India and one of the nine new private sector banks formed since 1993. We offer a wide range of banking products and services to corporate and retail customers through a variety of delivery channels. |
| Offering Information Company has | |||
| Trading As | IBN (NYSE) | Industry | Financial (SIC 6029) |
| Type of Stock Offered | American Depositary Receipts | Filing Date | 2/11/00 |
| Domestic Shares Offered | 13,830,000 | Offer Date | 3/28/00 |
| Foreign Shares Offered | 0 | Filing Price | - - |
| Company Shares | 13,830,000 | Offer Price | $11.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.506 |
| Gross Proceeds | $152,130,000 | Selling | $0.304 |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Morgan Stanley Dean Witter | Co-manager | (212) 761-5900 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 3/31/99 | 12/31/99 | |||||
| Revenues | - | - | - | - | 124.000 | - | 134.000 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | - | - | 12.000 | - | 24.000 |
| E.P.S | - | - | - | - | 0.070 | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | 9.68 | 17.91 | - |
| Cash Flow - Oper. | -179.00 | - | -295.00 | ||||
| Cash Flow - Inv. | -422.00 | - | -255.00 | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 2,349.00 | Current Assets | - | Current Ratio | - |
| Total Liab. | 2,264.00 | Current Liab. | - | Debt Ratio | 96.38% |
| Total Equity | 85.00 | Working Cap. | - | Debt to Equity Ratio | 26.64 |
| Cash | - | Return on Assets | 1.02% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for funding future growth and other general corporate purposes including strengthening our capital adequacy so as to be more in line with the benchmarks of lending, well capitalized international banks and to be in compliance with capital adequacy requirements in India. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Davis, Polk & Wardwell |
| Bank's Law Firm | Shearman & Sterling |
| Registrar/Transfer Agent | Self Administered |
| Auditor | KPMG Accountants N.V. |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| ICICI | 73.00 | |
| Individual domestic investors | 13.90 | |
| Other Indian institutional investors and corporate bodies | 5.50 | |
| Unit Trust of India | 4.50 | |
| Note: represents ownership of 5% or more prior to the offering. | ||