Kamath's Big Gamble
Critics are choking on ICICI Bank's $5-billion offering. CEO K.V.Kamath is unfazed.
Anand Adhikari
India Inc. may be grumbling about the tightening of liquidity andfears of a slowdown, but Kundapur Vaman Kamath, CEO & ManagingDirector of ICICI Bank, sees nothing but growth and investmentopportunities. In fact, the man is so bullish that he's willing torisk miffing the bank's investors and put his weight behind a $5-billion (Rs 20,500-crore) IPO that's not just ICICI's, but India's,biggest yet. But the question that almost everyone's asking on DalalStreet is, does ICICI Bank need to raise so much money? "We wereexpecting an equity issue from …
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