ICICI Bank 2003 Annual Report Download - page 51
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49
Directors’ Report
Distribution of shareholding of ICICI Bank at March 31, 2003
Range Number of Folios % of total Number of shares % of total
Up to 1,000 ....................... 564,492 99.14 45,992,798 7.50
1,001-5,000 ........................ 4,066 0.72 7,870,906 1.28
5,001-10,000 ...................... 341 0.06 2,399,332 0.39
10,001-50,000 .................... 253 0.04 5,272,716 0.86
50,001 & above ................. 250 0.04 551,498,652 89.97
Total ................................... 569,402 100.00 613,034,404 100.00
Outstanding GDRs/ADRs/Warrants or any Convertible Debentures, conversion date and likely impact
on equity
ICICI Bank has about 80 million ADRs (equivalent to about 160 million equity shares) outstanding,
which constitute 26.10% of ICICI Bank’s total equity capital. Currently, there are no convertible debentures
outstanding except Euro Convertible Bonds (ECB) issued by ICICI amounting to USD 0.40 million
outstanding as on March 31, 2003. As per the terms of the ECB agreement, the bondholder has a right
to convert the bond into fully-paid non-assessable shares at any time during the conversion period
which began on January 2, 1994 and would end at the close of business on March 1, 2004. The last
date of redemption of the outstanding ECBs is April 1, 2004. The impact of conversion of ECBs on
equity will be insignificant.
Plant Locations – Not applicable
Address for Correspondence
Jyotin Mehta
General Manager & Company Secretary
ICICI Bank Limited
ICICI Bank Towers, Bandra-Kurla Complex, Mumbai 400 051
A majority of the non-mandatory requirements with respect to corporate governance have also been
complied with.
COMPLIANCE CERTIFICATE OF THE AUDITORS
ICICI Bank has annexed to this report a certificate obtained from the statutory auditors, viz. N. M. Raiji & Co.
and S. R. Batliboi & Co., Chartered Accountants, regarding compliance of conditions of corporate governance
as stipulated in clause 49 of the listing agreement.
EMPLOYEE STOCK OPTION SCHEME
Since fiscal 2000, ICICI Bank has instituted an Employee Stock Option Scheme (ESOS) to enable its employees,
including wholetime Directors, to participate in the future growth and financial success of the Bank. As per