FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For
the
month of June 2007
Commission
File Number: 001-15002
ICICI
Bank Limited
(Translation
of registrant’s name into English)
ICICI
Bank
Towers,
Bandra-Kurla
Complex
Mumbai,
India 400 051
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file
annual
reports under cover Form 20-F or Form 40-F.
Indicate
by check mark if the registrant is submitting the Form 6-K
in
paper
as permitted by Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K
in
paper
as permitted by Regulation S-T Rule 101(b)(7):
Indicate
by check mark whether by furnishing the information
contained
in this Form, the Registrant is also thereby furnishing the
information
to the Commission pursuant to Rule 12g3-2(b)
under
the
Securities Exchange Act of 1934:
If
“Yes”
is marked, indicate below the file number assigned to the registrant
in
connection
with Rule 12g 3-2(b): Not Applicable
Item
1 of this Current Report on Form 6-K shall be incorporated by reference in
the prospectus dated June 13, 2007 of ICICI Bank Limited (the
“Company”) included in the Company’s Registration Statement (Registration
No. 333-143711) on Form F-3 and to be part thereof from the date on
which this report is filed, to the extent not superseded by documents or
reports
subsequently filed or furnished by the Company with the U.S. Securities and
Exchange Commission.
Table
of Contents
Item
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1.
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News
Release pertaining to proposed new
subsidiary, June 23, 2007.
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2.
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News
Release pertaining to pricing of ADS offering, June 23,
2007. |
Item
1
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![](logo.jpg) |
ICICI
Bank Limited
ICICI
Bank Towers
Bandra
Kurla Complex
Mumbai
400 051
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News
Release |
June
23, 2007
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The
Board of Directors of ICICI Bank Limited (NYSE: IBN) had, subject to
the receipt
of all regulatory approvals, approved the transfer of ICICI Bank’s equity
shareholding in ICICI Prudential Life Insurance Company Limited, ICICI
Lombard
General Insurance Company Limited, ICICI Prudential Asset Management
Company
Limited and ICICI Prudential Trust Limited to a proposed new subsidiary.
ICICI
Bank had received definitive offers from investors for subscription to
equity
shares of the proposed new subsidiary and for entering into definitive
agreements for this purpose. The arrangement is subject to receipt of
regulatory
and other approvals including that of the Reserve Bank of India, the
Insurance
Regulatory and Development Authority and the Foreign Investment Promotion
Board,
and would terminate failing receipt of such approvals within a mutually
agreed
date. While ICICI Bank has not received any official communication from
the
Foreign Investment Promotion Board in respect of its application, ICICI
Bank has
been given to understand that its application has not been approved by
the
Foreign Investment Promotion Board at its meeting on June 22, 2007. ICICI
Bank
will, in consultation with its advisors, evaluate the further steps to
be taken
to obtain the requisite approvals in this regard. There can be no assurance
that
such approvals will be obtained or that the proposed subsidiary will
be
successful in raising capital, or of the valuations based on which such
capital
will be raised. ICICI Bank’s inability to implement this reorganization and
raise capital in this subsidiary, or the valuation at which such capital
is
raised, could adversely impact its ability to capitalise its insurance
subsidiaries, their growth, its future capital adequacy, its financial
performance and the price of its equity shares and American Depositary
Shares.
ICICI
Bank Limited
is proposing, subject to market conditions and other considerations,
a public
issue of its equity shares and has filed a Red Herring Prospectus with
the
Registrar of Companies. The Red Herring Prospectus is available on the
website
of SEBI at www.sebi.gov.in and the respective websites of the BRLMs at
www.gs.com/country_pages/india, www.dspml.com, www.enam.com and
www.jmfinancial.in
Investors
should
note that investment in equity shares involves a high
degree
of risk and for details relating to the same, see the section titled
"Risk
Factors" of the aforementioned offer documents.
For
press queries, please contact Charudatta Deshpande at 91-22-26538208
or email
[email protected].
For
investor queries, please contact Rakesh Jha at 91-22-2653 6157 or Rupesh
Kumar
at 91-22-2653 7126 or e-mail
[email protected].
Item
2
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![](logo.jpg) |
ICICI
Bank Limited
ICICI
Bank Towers
Bandra
Kurla Complex
Mumbai
400 051
|
|
News
Release |
June
23, 2007
|
ICICI
Bank
prices ADSs at US$ 49.25
ICICI
Bank’s
American Depositary Share (ADS) offering of US$ 2.14 billion has
been priced at
US$ 49.25 per ADS, translating into a price of approximately Rs. 1,002.5
per
equity share. Each ADS represents two equity shares of ICICI Bank. The
offering
is being made under ICICI Bank’s registration statement filed with the United
States Securities and Exchange Commission on June 13, 2007. The ADS offering
has
a green shoe option of US$ 0.32 billion.
The
issue price represents a premium of 7.6% over the average ADS closing price
since the announcement of the offering on April 28, 2007.
The
issuance and delivery of the equity shares and the ADSs is expected to
occur on
or about July 6, 2007. However, the time of delivery is subject to change;
further information, if necessary, will be provided through a press release
to
be posted on ICICI Bank’s website.
Goldman
Sachs
International and Merrill Lynch International were the Joint Global Coordinators
and Joint Book Runners and JP Morgan was the Joint Book Runner for the
ADS
offering. The ADS offering is being made only by means of a prospectus
meeting
the requirements of Section 10 of the Securities Act of 1933, as
amended.
1
US$ = Rs. 40.71
This
press release
shall not constitute an offer to sell or the solicitation of an offer to
buy
ADSs or equity shares of ICICI Bank nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would
be unlawful prior to registration or qualification under the securities
laws of
such jurisdiction.
The
equity shares offered in the Indian public offering will not be or have
not been
registered under the Securities Act of 1933, as amended, and may not be
offered
or sold in the United States absent registration or an applicable exemption
from
registration.
Investors
should
note that investment in ADSs involves a high degree of risk and for details
relating to the same, see the section titled "Risk Factors" of the prospectus
supplement filed with the United States Securities and Exchange
Commission.
For
further press queries please call
Charudatta Deshpande at 91-22-2653 8208 or e-mail
at [email protected].
For
investor queries please call Rakesh
Jha at 91-22-2653 6157 or Rupesh Kumar at
91-22-2653 7126 or email at
[email protected].
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned,
thereunto
duly authorized.
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ICICI
Bank Limited
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Date:
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June 25,
2007
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By:
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/s/ Nilesh
Trivedi
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Name
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Nilesh
Trivedi
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Title :
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Assistant
Company Secretary
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