ICICI prudential life insurance is open for IPO
Posted on: 10/Sep/2016 6:34:50 PM
Public offering by ICICI prudential life insurance is set to begin on 19th September. This is first of its kind for an Initial Public Offering (IPO) in insurance sector. From 19th and 21st September, public can apply for this IPO. Price of one share will be of the range between Rs 300 and Rs 334. If the shares are sold at maximum price, a sum of Rs 6057 can be collected with this IPO.
The company had applied to the CEBI on 18th of July and on 2nd September, CEBI had given its nod for IPO. ICICI bank has got 68 percent share of ICICI prudential life insurance and 26 percent is retained by prudential itself. In this IPO, prudential will not be selling any of its shares. However, ICICI bank has 12.65 percent of its share open. In 2010, Coal India had collected Rs 15,000 crore through IP. Now, this one by ICICI prudential life insurance is the next big IPO.
