New Delhi, August 15: Private sector lender, ICICI Bank has raised close to Rs 15,000 crore to fund its business growth and meet regulatory capital requirements.

The bank raised the fund after completing the allotment of equity shares under its qualified institutional placement (QIP). Investors were allocated 41.89 crore shares at an issue price of Rs 358 per equity.

"The issue price represents a 1.9 per cent premium to the floor price determined based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations l, and a discount of 1.5 per cent to the closing price of the bank's equity shares on the BSE/NSE prior to the launch of the issue," ICICI said in a statement.

Earlier this week, the bank had set a floor price at Rs 351.36 per share for its QIP. The issue opened on August 10 and closed on August 14.

"Pursuant to the allotment of shares, the paid-up equity share capital of the bank stands increased from Rs 12,952,832,416 consisting of 6,476,416,208 equity shares of face value Rs 2 each to Rs 13,790,821,242 consisting of 6,895,410,621 equity shares of face value Rs 2 each," it said.

During the share sale, the monetary authority of Singapore picked up 4.6 crore shares, representing 11.06 per cent of the QIP size. Other prominent investors included Morgan Stanley Investment Funds, Global Opportunity Fund, and Societe Generale-ODI picking up 7.31 per cent and 5.55 per cent, respectively.

The equity issuance also witnessed healthy participation from the global and domestic investor community, including foreign portfolio investors, domestic mutual funds and insurance companies, it said.

"The proceeds of the issue will be used towards strengthening the capital adequacy ratio of the bank, improving the bank's competitive positioning," it said.