The entire top brass of ICICI, including managing director and CEO KV Kamath, deputy managing director Lalita Gupte and executive director SH Bhojani criss-crossed the world making presentations before the global investors.

ICICI sources, however, described it as a routine bi-annual exercise which follows the company's six-monthly and annual results. "We always make it a point to reach out to the global investors every six months. We answer all queries... every thing is transparent," an ICICI source said.

This time around, three teams left to meet global investors immediately after the announcement ofthe 1999 fiscal's first-half results (April-September) on October 30. ICICI reported a 25 per cent increase in its profit to Rs 518 crore for the first half of the current financial year from Rs 414 crore reported in the corresponding period of the previous year. ICICI shares along with other financial sector stocks had lost nearly three-fourth of their value since April.

ICICI share price crashed from Rs 125 in April to its lowest-ever price of Rs 38.25 in September on sustained selling pressure from FIIs and domestic investors. The share price has since recovered to hover around Rs 50.

ICICI officials had split themselves into into three teams meeting investors in Asia, Europe and North America. The team led by Kamath visited New York and Boston. ICICI treasury head Natchiket Mor and senior executive Chandra Kochar accompanied Kamath. Another team led by Lalita Gupte visited investors in London and Edinborough while Bhojani and senior general manager Kalpana Morporaia fielded questions from investorsin Hong Kong and Singapore. Senior executive Ananda Mukherjee, in charge of infrastructure financing, accompanied Gupte to London.