New Delhi, Dec. 25 (PTI): ICICI Bank is planning to raise up to Rs 1,200 crore in bonds.

The bank plans to raise at least Rs 500 crore by issuing tier-II bonds, with an option to raise a further amount if the issue is oversubscribed, merchant bankers close to the deal said.

The ICICI Bank scrip closed at Rs 862.70 on the BSE, up 0.15 per cent from its previous close at the end of Thursday’s trade. The scrip gained nearly 1 per cent to touch an intra-day high of Rs 870.

The bank yesterday sold its points of sale terminal business (debit and credit card payments) to US-based First Data Corporation for $80 million (about Rs 400 crore).

The deal took place amid reports that the bank is planning to raise more funds by diluting its stakes in two firms — 3i Infotech and Firstsource Solutions.