ICICI Bank Public Issuance
ICICI Banking Corporation Limited was established on January 5, 1994. It was later renamed ICICI Bank Limited on September 10, 1999. It was listed on the NYSE under this new name. However, considering ICICI Banking Corporation Limited as a base, Ganesha would like to shed light on the future of ICICI.
In ICICI Banking Corporation Limited’s establishment horoscope, Saturn is placed in his own sign on the ascendant. Here Ganesha notes that Saturn is placed in the rising air sign, so the basic chart is very powerful. Furthermore, Saturn is Lord of the 12th house of foreign lands in this Establishment horoscope, so his position on the ascendant is favorable for gains through foreign countries. The Sun, Mercury, Mars and Venus are placed in the 11th house of earnings in Sagittarius in the ICICI chart. Transiting Jupiter will enter Sagittarius on November 22, 2007. This transit is definitely beneficial for ICICI because it is the house of profit and Jupiter, a natural beneficent planet, will influence all four planets during 2008. Ganesha believes that it is likely that 2008 is full of events. year for ICICI.
On the negative side, ICICI has Rahu in the 10th house and is under the influence of Rahu’s major period until 01-20-2019. Seeing ICICI’s destiny in the light of Dasha Bhuktis and planetary transits, Ganesha feels that although time is very progressive and eventful for the bank, there may be difficulties on its way to progress. There may be some major changes at the organizational level during 2008.
While Rahu Dasha is in effect, transiting Jupiter is retrograde and Saturn is in the last degrees of Cancer, Mercury is also retrograde in Gemini. Mercury is the significator of Banking and documentation. Mercury is a very important planet for the stock market as well. Ganesha feels that due to this planetary picture, the correct issuance of ICICI may not be very satisfactory for investors. This does not mean that you will not get enough subscriptions, but still, there may not be much enthusiasm in investors. If they had chosen a different time frame to open the public issue, it would have been good for them.