MUMBAI : ICICI Bank Ltd. is considering raising as much as $3 billion in a share sale as the lender seeks to bolster its capital ratios, according to people familiar with the matter.The Mumbai-based lender plans to start discussions with potential advisers for the offering soon, said the people, who asked not to be identified as the information is private.
ICICI Bank is currently targeting a shale sale as soon as September, though the timing could still change depending on market conditions, the people said.Shares of ICICI Bank extended losses to as much as 6% on Wednesday after the Bloomberg News story.
The stock is down 34% this year, mirroring a 33% slump in the 10-member Bankex index.India’s second-largest private sector bank will be.