ICICI Bank board approves $2 billion fundraise to counter COVID-19 losses
Video description:
ICICI Bank board approves $2 billion fundraise which is approximately ₹15 CR. This fundraise will happen via an issue of securities which is equity. The various things that could be used are private placement, a preferential issue, QIP or and FPO like Yes Bank. The quantum of the raises are spooking investors and the timing and the price are also spooking investors but at the same time, it is going to reassure people that the bank has adequate capital to manage growth in the near term as well as protect the balance sheet. To know how will it impact the financials of the bank, brokers are now coming out with consensus estimates and it looks like the EPS dilution could be as high as 5-6% on an account of the raise. Watch the video to know more! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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