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Home / News / Business News / ICICI Prudential Life Insurance all set for IPO
  • Business

    ICICI Prudential Life Insurance all set for IPO

    Sneha Johny
    Written by
    Sneha Johny
    Mail
    Last updated on Jul 18, 2016, 03:35 pm
    ICICI Prudential Life Insurance all set for IPO
    Credits:
  • One of India's largest insurance companies, ICICI Prudential Life Insurance filed for an IPO today, making it the first insurance company in India to be publicly listed.

    With over 1 trillion rupees in assets, the company wishes to be listed late this year.

    The insurance company has roped in Bank of America Merrill Lynch and ICICI Securities Ltd to help manage the public offering.

  • In this article
    ICICI Prudential Life Insurance The ICICI Prudential growth story FDI norms eased for insurance sector ICICI Prudential Life Insurance all set for IPO Specifics: ICICI Prudential IPO ICICI Prudential's IPO sale
  • About

    ICICI Prudential Life Insurance

    ICICI Prudential Life Insurance
    Credits:
  • ICICI Prudential Life Insurance, headquartered in Mumbai, was started out in late 2000, soon after obtaining approval to start operating as a private insurance player in India.

    The company was formed as a joint venture between India's ICICI Bank and Britain's top insurance company, Prudential PLC.

    The insurance company is currently headed by Sandeep Bakhshi, a former senior executive of ICICI Bank.

  • ICICI Prudential facts

    The ICICI Prudential growth story

    The ICICI Prudential growth story
    Credits:
  • The insurance company has witnessed remarkable growth, generating a total premium of about Rs.192 billion up until last financial year.

    The company also has its total capital infused worth at close to Rs.49 billion.

    It is one amongst the 23 existent private sector companies in India.

    ICICI Bank, one of the company's promoters, recently sold 2% stake in the company for Rs.650 crore.

  • Do you know?

    FDI norms eased for insurance sector

  • On March 1, 2016, India's Finance Ministry announced an easing in Foreign Direct Investment (FDI) norms in India's insurance sector, and increased FDI holding up to 49%. Analysts deem this to be a major mark in enabling large insurance companies to be listed.

  • 18 Jul 2016

    ICICI Prudential Life Insurance all set for IPO

    ICICI Prudential Life Insurance all set for IPO
    Credits:
  • One of India's largest insurance companies, ICICI Prudential Life Insurance filed for an IPO today, making it the first insurance company in India to be publicly listed.

    With over 1 trillion rupees in assets, the company wishes to be listed late this year.

    The insurance company has roped in Bank of America Merrill Lynch and ICICI Securities Ltd to help manage the public offering.

  • 18 Jul 2016

    Specifics: ICICI Prudential IPO

    Specifics: ICICI Prudential IPO
  • The insurance company's IPO is touted to be the biggest in India's IPO history over the last six years.

    ICICI Prudential is looking to raise at least Rs.5,000 crore with this share sale.

    One of the major stakeholders with 68%, ICICI Bank will sell around 181.34 million shares .

    Although other shareholders like Prudential PLC, holding 26%, will not sell its shares.

  • Information

    ICICI Prudential's IPO sale

  • The insurance company's share sale will see all the proceeds garnered from the initial public offering being channeled to ICICI Bank, its major stakeholder. The document filed for IPO also showed that the company will not be selling any new shares during the IPO.

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