ICICI Bank is looking at the largest follow-on IPO in the country

ICICI Bank''s $5 billion capital mop up is in anticipation of a $500 billion investment by corporates and expectations that Mumbai will emerge as an international financial centre. ICICI Bank is looking at the largest follow-on IPO in the country, which would result in an equity dilution of close to 20%. The increased capital would provide it with enough headroom to grow its balance sheet by another Rs 2,00,000 crore. The chief of ICICI Bank points out that the capital mobilisation plan is in anticipation of a ''step change'' growth in the economy.