March 22, 2018 - March 26, 2018

ICICI Securities IPO Basis of Allotment

ICICI SECURITIES LIMITED

Our Company was incorporated as ICICI Brokerage Services Limited on March 9.1995. at Mumbai, Maharashtra as a public limited company, under the Companies Act, 1956 and received a certificate far commencement of business dated May 3, 1995. Subsequently, the name of our Company was changed to ICICI Securities Limited, and a fresh certificate of incorporation consequent to the change of name was issued by the Registrar of Companies, Maharashtra at Mumbai ('RoC') dated March 26, 2007. For further details, please see the section entitled 'History and Certain Corporate Matters' on page 149 of the Prospectus ('Prospectus')

Registered Office: ICICI Centre. H.T. Parckh Marg, Churchgate. Mumbai 400 020, Tel: +91 22 6637 7100; Fax: +91 22 2288 2445. Corporate Office: ICICI Securities Limited, Shree Sawan Knowledge Park, Plot No. D-507. T.T.C. Industrial Area MIDC. Turbhe, Navi Mumbai 400 705; Contact Person: Raju Nanwani, Company Secretary and Compliance Officer; E-mail: investors@icicisecurities.com; Website: www.icicisecurities.com;
Corporate Identity Number: U67120MH1995 PLCO86241.

PROMOTER OF OUR COMPANY: ICICI BANK LIMITED

Our Company has fifed the Prospectus dated March 26,2018 with the Registrar of Companies, (the 'Prospectus') and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited (''NSE') and the BSE Limited ('BSE') and the trading is expected to commence on or about April 5.2018.

BASIS OF ALLOTMENT

PUBLIC OFFER OF 67,593,245 EQUITY SHARES* OF FACE VALUE OF RS 5 EACH ('EQUITY SHARES') OF ICICI SECURITIES LIMITED ('OUR COMPANY') FOR CASH AT A PRICE OF RS 520 PER EQUITY SHARE) INCLUDING A SHAPE PREMIUM Of RS 515 PER EQUITY SHARE) AGGREGATING TO RS 35,148.49 MILLION (THE 'OFFER') THROUGH AN OFFER FOR SALE OF 67,593,245 EQUITY SHARES' BY ICICI BANK LIMITED (THE 'PROMOTER SELLING SHAREHOLDER'). INCLUDING A RESERVATION OF 1,315,412 EQUITY SHARES* FOR PURCHASE BY THE ICICI BANK SHAREHOLDERS FOR CASH AT A PRICE OF RS 520 PER. EQUITY SHARE AGGREGATING TO RS 684.01 MILLION ('ICICI BANK SHAREH0LDERS' RESERVATION PORTION'). THE OFFER WOULD CONSTITUTE 20.98% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL AND THE NET OFFER SHALL CONSTITUTE 20.57% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL, THE OFFER PRICE AND THE ANCHOR INVESTOR OFFER PRICE IS RS 520 PER EQUITY SHARE,THE FACE VALUE. OF EQUITY SHARES IS RS 5 EACH- THE OFFER PRICE IS 104 TIMES THE FACE VALUE OF EQUITY SHARES.

* 66, 925,305 Equity Shares were allotted after technical rejections. Please note that in accordance with the Red Herring Prospectus, an offer for sale was made for up to 77,249,508 Equity Shares.

OFFER PRICE: RS 520 PER EQUITY SHARE OF FACE VALUE OF RS 5 EACH
ANCHOR INVESTOR OFFER PRICE: RS 520 PER EQUITY SHARE
THE OFFER PRICE IS 104 TIMES THE FACE VALUE

Risks to Investors:

1. The six Lead Managers associated with the Offer have handled 55* public issues in the past three years out of which 14* issues closed below the issue price or listing date.
2. The Price/Earnings Ratio ('P/E Ratio') based on consolidated diluted EPS for Fiscal 2017 for the Company at the upper end of the Price Band is as high as 49.5 as compared to the average industry peer group P/E Ratio of 37.1 (as of March 31.2017).
3. Average cost of acquisition of Equity Shares for the Promoter Selling Shareholder in the Offer is Rs 5.82 per Equity Share. The Offer Price at upper end of the Price Band is Rs 520 per Equity Share.

*As disclosed in the Prospectus

BID/ OFFER PERIOD: OPENED ON: THURSDAY, MARCH 22, 2018,
CLOSED ON : MONDAY, MARCH 26. 2018
ANCHOR INVESTOR BIDDING DATE WAS ON WEDNESDAY, MARCH 21, 2018

In terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957. as amended ('SCRR'), the Offer is being made in accordance with Regulation 26(2) of the SEBI ICDR Regulations and through a Book Building Process wherein not less than 75% of the Net Offer was allotted on a proportionate basis to QIBs. The Promoter Selling Shareholder, in consultation with the Lead Managers, allocated 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary; basis, out of which at least one third was available for allocation to domestic Mutual Funds only. 5% of the QIB Portion (excluding the Anchor Investor Portion) was available For allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders other than Anchor Investors, including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. Further, not more than 15% of the Net Offer was available for allocation to Non-Institutional Bidders and not more than 10% of the Net Offer was available for allocation to Retail Individual Bidders in accordance with SEBI ICDR Regulations, subject to valid Bids having been received at or above the Offer Price. All potential investors, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount ('ASBA') process providing details of their respective bank account which were blocked by the Self Certified Syndicate Banks ('SCSBs') to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, please see the section entitled 'Offer Procedure' on page 403 of the Prospectus.
The Offer received 137,724 applications for 67.189,556 Equity Shares (prior to technical rejections) resulting in 0,99 times subscription. The details of the applications received in the Offer from various categories are as under: (before technical rejections):

Sr. No	Category	No. of Applications	No of Equity Shares applied	Shares Reserved as per Prospectus	No. of times Subscribed	Amount (Rs)
A	Retail Individual Bidders	121,587	6,259,176	6,.443,416	0.97	3,258,162,414.00
B	Non Institutional Bidders	1,842	3,612,308	3,860,724	0.94	1,878,367,064.00
C	ICICI Bank Shareholders Reservation	14,194	1,249,500	1,315,412	0.95	651,012,648.00
D	Qualified Institutional Bidders (Excluding Anchors)	43	22,997,212	22,949,528	1.00	11,958,550,240.00
E	Anchor Investors	58	33,071,360	33,024,165	1.00	17,197,107,200.00
	Total	137,724	67,189,556	67,593,245	0.99	34,943,199,566.00

Final Demand
A summary of the final demand as at different Bid prices is as under:

Bid Price	No, of Equity Shares	% to Total	Cumulative Total	Cumulative % of Total
519	178,752	0.51	178,752	0.51
520	27,814,724	79.99	27,993,476	80.50
CUT OFF	6,779,752	19.50	34,773,228	100.00
TOTAL	34,773,228	100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Eschange, being the NSE on March 29,2018.
A. Allotment to Retail Individual Bidders (after technical rejections) (including ASBA Applications)
The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of Rs 520 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 0.950078 times. The total number of Equity Shares Allotted in Retail Portion is 6,131,720 Equity Shares to 118,748 successful Retail Individual Bidders. The category-wise details of the Basis of Allotment are asunder:

Category	No. of Applications Received	% of Total	Total No. of Equity Shanes applied	% to Total	No. of Equity Shares allotted per applicant	Ratio	Total No. of Equity Shares allotted
28	90,910	76.56	2,545,480	41.51	26	1:1	2,545,480
56	12,552	10.57	702,912	11.46	56	1:1	702,912
84	3,607	3.04	302,988	4.94	84	1:1	302,988
112	3,056	2.57	342,272	5.58	112	1:1	342,272
140	1,682	1.42	235,480	3.84	140	1:1	235,480
168	785	0.66	131,880	2.15	168	1:1	131,880
196	1,247	1.05	244,412	3.99	196	1:1	244,412
224	445	0.37	99,680	1.63	224	1:1	99,680
252	144	0.12	36,288	0.59	252	1:1	36,288
280	812	0.68	227,360	3.71	280	1:1	227,360
308	139	0.12	42,812	0.70	308	1:1	42,812
336	220	3.19	73,920	1.21	336	1:1	73,920
364	3,149	2.65	1,146,236	18.69	364	1:1	1,146,236
TOTAL	118,748	100.00	6,131,720	100.00			6,131,720

Unsubscribed portion of 322,193 Equity Shares were not allotted to any other category.

B. Allotment to Non-Institutional Bidders (After Technical Rejections)
The Basis of Alloiment to the Non-Institutional Bidders, who have bid at the Offer Price of Rs 520 per Equity Share, was finalized in consultation with the NSE. The Non Institutional Portion has been subscribed to the extent of 0.918817 times. The total number of Equity Shares Allotted in this category is 3,561,768 Equity Shares to 1.768 successful Non- Institutional Bidders. The category-wise details of the Basis of Allotment are as under: (Sample)

Category	No. of Applications Received	% of Total	Total No.of Equity Shares applied	% to Total	No. of Equity Shares allotted per applicant	Ratio	Total No. of Equity Shares allotted
392	710	40.16	278,320	7.81	392	1:1	278,320
420	110	6.22	46,200	1.30	420	1:1	46,200
7000	1	0.06	7,000	0.20	7,000	1:1	7,000
7672	1	0.06	7,672	0.22	7,672	1:1	7,672
7700	1	0.06	7,700	0.22	7,700	1:1	7,700
8484	1	0.06	8,484	0.24	8,484	1:1	8,484
9604	2	0.11	19,208	0.54	9,604	1:1	19,208
3632	1	0.06	9,632	0.27	9,632	1:1	9,632
9800	1	0.06	9,800	0.28	9,800	1:1	9,800
9996	2	0.11	19,992	0.56	9,996	1:1	19,992
10500	1	0.06	10,500	0.29	10,500	1:1	10,500
12320	1	0.06	12,320	0.35	12,320	1:l	12,320
13440	1	0.06	13,440	0.38	13,440	1:1	13,440
13468	1	0.06	13,468	0.38	13,468	1:1	13,468
14000	1	0.06	14,000	0.39	14,000	1:1	14,000
17304	1	0.06	17,304	0.49	17,304	1:1	17,304
19208	2	0.11	38,416	1.08	19,208	1:1	38,416
19236	3	0.17	57,708	1.62	19,236	1:1	57,708
19544	1	0.06	19,544	0.55	19,544	1:1	19,544
19880	1	0.06	19,880	0.56	19,880	1:1	19.880
28840	1	0.06	28,840	0.81	28,840	1:1	28,840
38444	1	0.06	38,444	1.08	38,444	1:1	33,444
48076	1	0.06	48,076	1.35	48,076	1:1	48,076
48104	1	0.06	48,104	1.35	48,104	1:1	48,104
61040	1	0.06	61,040	1.71	61,040	1:1	61,040
96152	1	0.06	96,152	2.70	96,152	1:1	96,152
192304	1	0,06	192,304	5.40	192,304	1:1	192,304
384608	1	0.06	384,608	10.80	384,608	1:1	384,608
961520	1	0.06	961,520	27.00	961,520	1:1	961,520
Total	1,768	100.00	3,561,768	100.00			3,561,768

Unsubscribed portion of 314,702 Equity Shares were not allotted to any other Category.

C. Allotment to QIBs (Excluding Anchor Investors) (After Technical rejections)
Allotment to QIBs, who have Bid at the Offer Price of Rs 520 per Equity Share, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 0.9987 times of QIB Portion. As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e. 1,151,413 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining; available Equity Shares i.e. 21,845,799 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 22,997,212 Equity Shares, which were allotted to 43 Successful QlB Bidders. The category-wise details of the Basis of Allotment are as. under:

Category	FIs/Banks	FII	MFs	ICs	NBFCs	Others	Total
QlB (Excluding Anchor Investors)	961,520	4,025,392	15,769,292	653,772	48,076	1,539,160	22,997,212

Unsubscribed portion of 31,045 Equity Shares not allocated to any other category.

D. Allotment to Anchor Investors (After Technical Rejections)
The Promoter Selling Shareholders, in consultation with the Lead Managers, have allocated 33,024,165 Equity Shares to 36 Anchor Investors (through 58 Applications) at the Anchor Investor Offer Price of Rs 520 per Equity Share in accordance with the SEBI Regulations.

Category	FIs/Banks	NBFCs	MFs	ICs	VCs	AIF	FII/FPI	Total
Anchor Investors	-	1,923,124	16,154,040	480,788	-	3,173,100	11,293,113	33,024,165

E. Allotment under ICICI Bank Shareholders Reservation Portion)
The Basis of Allotment to investors under the ICICI Bank Shareholders Reservation Portion, who have bid at the Offer Price of Rs 520 per Equity Share, was
finalized in consultation with the NSE, The ICICI Bank Shareholders Reservation Portion has been subscribed to the extent of 0.920198 times. The total number of Equity Shares Allotted in this category is 1.210,440 Equity Shares to 13.591 successful Bidders. The category-wise details of the Basis of Allotment are as under:

Category	No. of Applications Received	% of Total	Total No. of Equity Shares applied	% to Total	No. of Equity Shares allotted per applicant	Ratio	Total No. of Equity Shares allotted
28	7,033	51.75	196,924	16.27	28	1:1	196,924
56	2,410	17.73	134,960	11.15	56	1:1	134,960
84	814	5.99	68,376	5.65	84	1:1	68,376
112	766	5.64	85,792	7.09	112	1:1	85,792
140	408	3.00	57,120	4.72	140	1:1	57,120
168	183	1.35	30,744	2.54	168	1:1	30,744
196	341	2.51	66,836	5.52	196	1:1	66,836
224	141	1.04	31,584	2.61	224	1:1	31,584
252	44	0.32	11,088	0.92	252	1:1	11,088
280	213	1.57	59,640	4.93	280	1:1	59,640
308	42	0.31	12,936	1.07	308	1:1	12,936
336	64	0.47	21,504	1.78	336	1:1	21,504
364	1,061	7.81	386,204	31.91	364	1:1	386,204
392	27	0.20	10,584	3.87	392	1:1	10,584
420	9	0.07	3,780	0.31	420	1:1	3,780
448	1	0.01	448	0.04	448	1:1	448
476	1	0.01	476	0.04	476	1:1	476
504	4	0.03	2,016	0.17	504	1:1	2,016
560	3	0.02	1,680	0.14	560	1:1	1,680
588	4	0.03	2,352	0.19	588	1:1	2,352
700	1	0.01	700	0.06	700	1:1	700
756	2	0.01	1,512	0.12	756	1:1	1,512
840	1	0.01	840	0.07	840	1:1	840
952	5	0.04	4,760	0.39	952	1:1	4,760
980	4	0.03	3,920	0.32	980	1:1	3,920
1008	3	0.02	3.024	0.25	1008	1:1	3,024
1120	2	0.01	2,240	0.19	1120	1:1	2,240
1456	1	0.01	1,456	0.12	1456	1:1	1,456
1540	2	0.01	3,080	0.25	1540	1:1	3,080
3864	1	0.01	3,864	0.32	3864	1:1	3,864
TOTAL	13,591	100.00	1,210,440	100 00			1,210,440

Unsubscribed portion of 104,972 Equity Shares spilled over to QlB Category, NIB Category and Retail Category in the ratio of 75:15:10.

The IPO Committee of our Company on March 31, 2018 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allolted the Equity Shares to various successful Bidders. The Allotment Advice-cum-Intimations and/ or notices will be dispatched to the address of the invests as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on March 31, 2018 and payment to non-Syndicate brokers have been issued on March 31,2018. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on March 31, 2018 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company will File the Listing application with NSE and BSE on April 2. 2018. The Company expects to receive listing and trading approval from NSE and BSE and the trading is expected to commence on or about April 5,2018.
All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Offer, Karvy Computershare Private Limited at https://karisma.karvy.com/

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/ sole Bidder, Did cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received From the Designated Intermediary at the address given below;

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32 Gachibowli, Financial District, Nanakramguda,
Hyderabad 500 032; Tel: +91 406716 2222; Fax: +91 40 2343 1551,
E-mail; einward.ris@karvy.com; Website: https://karisma.karvy.com/
Investor Grievance Email: isec.ipo@karvy.com; Contact Person: M. Murali Krishna
SEBI Registration No.: INR000000221

Place: Mumbai Date: March 31,2018	For ICICI Securities Limited On behalf of the Board of Directors Sd/- Company Secretary and Compliance Officer

ICICI Securities IPO Basis of Allotment FAQs

The IPO allocation is based on the subscription level and the investor category.

Refer to IPO allotment rules and methods for more details.

See the basis of allotment document above to know how the shares are allocated in ICICI Securities IPO .

The ICICI Securities IPO basis of allotment (published above) tells you how shares are allocated to you in ICICI Securities IPO and category wise demand of IPO share.

Visit the ICICI Securities IPO allotment status page to check the number of shares allocated to your application.

In ICICI Securities IPO allotment process, the registrar separates valid and invalid applications. The invalid applications with technical errors are rejected and only valid applications at or above the cut-off price are considered for allotment.

For more information, please refer to IPO Allotment Process and Basis of Allotment.

Check the ICICI Securities IPO basis of allotment document to know how the shares are allocated in ICICI Securities IPO.

ICICI Securities IPO Basis of Allotment

ICICI Securities IPO Basis of Allotment FAQs

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