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Saturday 10 September 2016

ICICI Prudential IPO to hit markets on Sep 19

The Rs 6,000 crore maiden public issue of ICICI Prudential Life Insurance Company, which is a joint venture between banking major ICICI Bank and UK's Prudential Corporation Holdings, is set to open for subscription on September 19, 2016. This will be the first ever IPO by an insurer in India. The IPO will close on September 21, 2016. The company is aiming to sell up to 18.13 crore shares in a price band of Rs 300-334, making it the biggest IPO of the calendar year. ICICI Bank has around 68 % stake in ICICI Prudential Life Insurance Company, while Prudential holds 26 %.


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