Tuesday, 20 September 2016

Is ICICI Pru Life IPO new hot cake?

ICICI Prudential Life Insurance Company IPO which opens for subscription on September 19 and closes on September 21. The Rs 6057-crore public issue is available for subscription at Rs 300-334 per share for its 18.13 crore equity shares initial public offer (representing 12.63 percent of the post-offer paid-up equity share capital). 


It is the largest private sector life insurer by total premium and assets under management in FY16. Recommending to subscribe, Centrum Wealth says that ICICI Pru's valuations appear attractive when compared to 4.1 times of Max Financial Services’ embedded value. It believes ICICI Pru will be able to attract adequate investor interest considering the healthy financials, return ratios of over 30 percent return on equity (RoE) and one of the highest solvency ratio of 320 percent. 


"The company’s operational strategies and focus on digital sales are expected to aid business growth going ahead. Hence, investors can subscribe to the issue," it says in a note.


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