OFFER DOCUMENT

Prudential ICICI Balanced Fund
Given below is a brief summary of ICICI Bank’s financials:
(Rs. in crores)
Year ended Year ended *Year ended
March 31, 2001 March 31, 2002 March 31, 2003
Total Income 1462.13 2726.59 12,526.88
Profit After Tax 161.09 258.3 1,206.18
Free Reserves @ 1092.26 5632.41 6,320.65
Net Worth 1302.43 6244.96 6933.31
Earnings per Share (Rs.) (diluted) 8.13 11.61 19.65
Book Value per Share (Rs.) 59.11 101.95 113.10
Dividend 20% 20% 75%
Paid Up Capital (Equity) $ 220.36 612.55 612.66
(Preference) # 0 350 350
* The results for the year ended March 31, 2003 include the result of erstwhile ICICI Limited and its subsidiaries, ICICI Personal
Financial Services Limited and ICICI Capital Services Limited, amalgamated with the Bank w.e.f. March 30, 2002. The financials
for the current periods are not comparable with the earlier periods.
@ Excludes revaluation reserve
$ Includes in 2002, Rs. 392.67 crores for shares to be issued to shareholders of ICICI Limited on amalgamation, further, during
the year ended March 31, 2003, the Bank allotted 3,000 shares pursuant to exercise of employee stock options.
# Represents in 2002, face value of 350 preference shares to be issued to shareholders of ICICI Ltd on amalgamation,
redeemable at par on April 20, 2018. As per the notification received from Ministry of Finance, the restriction of section 12(1)
of the Banking Regulation Act, 1949, prohibiting banks established after 1944 from holding preference shares, is not
applicable to the Bank for a specified period.
Prudential plc of UK, through its wholly owned subsidiary, Prudential Corporation Holdings Limited, has been issued and
allotted shares aggregating 55% stake in the share capital of Prudential ICICI Asset Management Company Limited (AMC),
whereas the balance 45% shareholding in the AMC is being held by erstwhile ICICI and is under process of being transferred to
ICICI Bank Ltd. ICICI Bank will hold 30% of the paid-up capital of the AMC and the balance 15% will be held by a subsidiary of
ICICI Bank Ltd. (ICICI Venture Funds Management Company Limited), in order to ensure adherence with the provisions of Section
19(2) of the Banking Regulation Act, 1949.
b) The Trustee Company (The Trustee) - Prudential ICICI Trust Limited
Prudential ICICI Trust Limited, a company incorporated under the Companies Act, 1956 is the Trustee to the Fund vide Trust Deed
dated August 25, 1993 as amended from time to time. Prudential plc, through its wholly owned subsidiary, Prudential Corporation
Holdings Limited, U.K. holds 55% of the shares of the Trustee, whereas the balance 45% shareholding of the Trustee company
is being held by erstwhile ICICI and is under a process of being transferred to ICICI Bank Ltd and its Group Company.
i) The Directors of the Trustee Company are:
Mr. Natesan Vaidheeswaran Iyer
Partner
(S/o. Mr. Chinnaswamy Natesan Iyer)
C.C. Chokshi & Co., Mumbai
73, Jupiter Apartments C.C. Chokshi & Co., Ahmedabad
41, Cuffe Parade C.C. Chokshi & Co., Baroda
Mumbai 400 005
C.C. Chokshi & Co., New Delhi
Chartered Accountant
C.C. Chokshi & Co., Goa
Deloitte Haskins & Sells, Mumbai
Deloitte Haskins & Sells (National Firm), Mumbai
Deloitte Haskins & Sells, Ahmedabad
Deloitte Haskins & Sells, Baroda
Deloitte Haskins & Sells, New Delhi
Deloitte Haskins & Sells, Calcutta
Touche Ross & Co., Chennai
Touche Ross & Co., Mumbai
Touche Ross & Co., Ahmedabad
Touche Ross & Co., Baroda
Director
CCC Services Co. Pvt. Ltd., Mumbai (Chairman)
Deloitte Touche Tohmatsu (Global Board)
NSE.IT Limited, Mumbai
Discount and Finance House of India Ltd, Mumbai
National Commodity & Derivatives Exchange Limited
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