Public Issue of ICICI Bank
ICICI Banking Corporation Limited was established on 5th January 1994. Later it was renamed as ICICI Bank Limited on 10th September 1999. it was listed on NYSE with this new name. However, considering ICICI Banking Corporation Limited as base, Ganesha would like to throw light on ICICI's future.
In ICICI Banking Corporation Limited's establishment horoscope, Saturn is placed in its own sign in the ascendant. Here, Ganesha notes that Saturn is placed in the air sign in ascendant, so the basic chart is very powerful. More to this, Saturn is Lord of 12th house of foreign land in this Establishment horoscope, so its position in the ascendant is favourable for gains through foreign countries. Sun, Mercury, Mars and Venus are placed in the 11th house of gains in Sagittarius in ICICI's chart. Transiting Jupiter will be entering Sagittarius on 22nd November 2007. This transit is surely beneficial for ICICI because it is house of gains and Jupiter - a natural benefic planet will be influencing all four planets during 2008. Ganesha feels that 2008 is likely to be very eventful year for ICICI.
On the negative side, ICICI has Rahu in the 10th house and it's under the influence of Rahu major period till 20-01-2019. Viewing ICICI's fate in the light of Dasha Bhuktis and planetary transits, Ganesha feels that even though the time is very progressive and eventful for the bank, there may be difficulties on their way to progress. There may be some major changes on the organizational level during 2008.
While Rahu Dasha is in force, transiting Jupiter is retrograde and Saturn is in last degrees of Cancer, Mercury too is retrograde in Gemini. Mercury is significator of Banking and documentation. Mercury is a very important planet for stock market too. Ganesha feels that because of this planetary picture, ICICI's right issue may not be very satisfactory for the investors. This does not mean that it will not gain enough subscription but still, there may not be much of enthusiasm in investors. If they would have chosen a different timeframe to open public issue, it would have been good for them.
Bhavesh N. Pattni & Dharmesh Joshi
The GaneshaSpeaks Team