ICICI Bank to raise up to Rs 1,200 cr

 
The bank plans to raise at least Rs 500 crore by issuing Tier-II bonds, with an option to raise a further amount if the issue is oversubscribed, merchant bankers close to the deal said.

The bank on Thursday sold its points of sale (POS) terminal business (debit and credit card payments) to US-based First Data Corporation (FDC) for US$80 million about Rs 400 crore.
The deal took place amid reports that the bank is planning to raise more funds by diluting its stakes in two firms — 3i Infotech and Firstsource Solutions.

ICICI Bank through its various arms holds 29.97 per cent stake in IT firm 3i Infotech and 26.67 per cent in BPO firm Firstsource Solutions, according to its September quarter shareholding pattern available on the Bombay Stock Exchange.