Monday 19 September 2016

Subscribe to ICICI Prudential Life Insurance IPO

ICICI Prudential Life Insurance Company Ltd (IPRU) is currently the largest private sector life insurance company with an AUM of `1.09 tn and market share of 11.3% as on Q1FY17. Amongst private sector, IPRU has a market share of 21.7% which is commendable considering the large number of private sector life insurers. IPRU has a very strong franchise in life insurance business and is well-poised to cater to the underpenetrated Insurance market of India. 

 

IPRU is a joint venture between ICICI Bank and Prudential wherein ICICI Bank holds ~67%. IPRU offers its customers a range of life insurance, health insurance and pension products & services. The company is not raising fresh capital through this IPO as ICICI Bank sells 18.1 crore shares at price band of 300- 334. There is 10% reservation for shareholders of ICICI Bank and hence, the retail shareholders can apply under both categories (shareholder quota and net issue). 

 

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