Goldman Sachs 2007 Annual Report Download - page 19

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We see opportunity
In new
relationships
ICICI BANK LIMITED
ICICI Bank Limited has established
itself as one of the financial leaders
of the fast growing Indian economy.
To fund its growth, ICICI selected
Goldman Sachs to lead manage
its $4.9 billion equity offering
—
the largest equity offering in history
by an Indian issuer. This complex
transaction entailed simultaneous
domestic and international tranches.
In addition to its responsibilities as
joint bookrunner, Goldman Sachs
served as lead bank for regulatory
processes and international
marketing. The marketing exercise
included a four-day global road
show with over 80 meetings with
a broad range of sophisticated
investors including domestic and
international mutual funds, pension
funds, hedge funds and private
equity investors.
ICICI’s confidence in Goldman
Sachs, and the success of this large
and complex transaction, were
particularly gratifying as it came
only six months after we received
our merchant banking license in
India. This confidence was further
reiterated when ICICI also selected
Goldman Sachs to lead manage
its $2 billion offering of senior
notes. This transaction was a
testament to Goldman Sachs’
commitment to building strong
relationships in India by delivering
a full range of products and
services to our clients.
17Goldman Sachs 2007 Annual Report