Mumbai: The Rs10,062.5-crore follow-on public offer (including a green shoe option of Rs1, 312.50 crore) of ICICI Bank, India''s biggest private sector lender, was oversubscribed 3.15 times.

The share issue, the largest ever to hit the Indian capital market, opened for subscription on June 19 and was oversubscribed 3.15 times with bids received for over 310 million shares against the 98.8 million shares on offer.

The QIB portion comprising 46.9 million shares was subscribed over six times. Foreign institutional investors submitted over 19 crore bids, followed by domestic financial institutions, including banks and insurance companies, who bid for 9.09 crore shares.

Up to 5 per cent of the issue, worth Rs437.5 crore, has been reserved for existing retail shareholders of the bank who held less than 110 shares of the bank as of June 13, 2007.

Retail investors, including existing shareholders, will be allotted shares at a discount of Rs50 a share to the issue price determined through the book-building process.

The price band for the issue has been fixed at between Rs885 and Rs950.

Retail bidders can pay Rs250 per share on application, Rs250 per share on allotment and the balance amount on a call which is to be issued by the bank within a period of six months from the date of allotment, and the discount would be adjusted against the call amount. They can also pay the full bid amount less the discount, at the time of application.

Non-institutional bidders have the option to pay Rs250 on application and the balance on allotment. Qualified institutional bidders (QIBs), who have to pay 10 per cent of the bid amount at the time of application, have the option to pay Rs250 less the margin amount on confirmation of allocation and the balance on allotment.

Non-resident bidders (including FIIs) will require prior approval of the Reserve Bank of India to subscribe to partly paid shares.

The FPO is part of the bank''s plan to mop up Rs20,125 crore from domestic and international markets. Of this, the bank plans to raise Rs8,750 crore from the domestic market, with an option to retain an additional Rs1,300 crore.