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What is the procedure for redemption of ICICI Bank bonds?

For bonds held in physical form, the bondholders are required to surrender the bond certificates duly discharged by the sole holder/ all the joint holders at least one month prior to the redemption date. ICICI Bank may however redeem the bonds without requiring the surrender of bond certificates. In such a case, the redemption proceeds would be paid to those bondholders whose names appear in the Register of Bondholders as on the record date fixed for this purpose.

In case of bonds held in electronic form, no action is required on part of the Bondholders and the redemption proceeds would be paid to those bondholders whose names appear on the list of beneficial owners given by the Depositories to the Company. Presently, ICICI Bank has obtained the necessary approval for dispatch of the redemption proceeds without requiring the surrender of the original bond certificates by the bondholders. The redemption warrants are dispatched to the investors on or before the due date of payment to the address recorded with us.

However, the necessary redemption forms (intimation of redemption) are sent to the investor informing them the redemption procedure.