The offer for sale was open to subscription from March 22 to March 26 with a price band of Rs 519 to 520.
At Rs 520, the IPO will raise Rs 3,515 cr, the private sector bank said. This is lower than the initial estimate of raising Rs 4,020 cr by selling a 24% stake.
The lower proceeds is on account of less-than-expected demand in the high-net-worth or HNI and retail investor segments in view of the worldwide correction in equity prices.
The bank said today that a total of 67.6 mln shares were sold as part of the IPO.
As the entire lot is from the shareholding of ICICI Bank, none of the money raised in the IPO will go to the broking arm, but will instead find its way to the bank.
Out of the 68 mln, 3.9 mln shares were be reserved for shareholders of ICICI Bank.
The bank has been busy raising money by diluting its stakes in subsidiaries.
The IPO of ICICI Prudential Life Insurance raised Rs 6,000 crore, while ICICI Lombard General Insurance IPO raised Rs 5,700 crore.