Showing posts with label ICICI Lombard General Insurance IPO opens today. Show all posts
Showing posts with label ICICI Lombard General Insurance IPO opens today. Show all posts

Saturday 16 September 2017

Free Stock market tips; The Stock Watch out

The Indian stock market ended the week on a positive note, as the benchmark Nifty50 gained 150 points on weekly basis. Markets have resumed its upswing since it inched closer to all-time high levels. Mid-caps and Small caps outperformed the major indices in the market during the week.

Initial Public Offers (IPO) were the focus of the last week as there were three IPOs hit the markets namely ICICI Lombard General Insurance, Capacit’e Infra-projects and Matrimony.com opened for subscription and were well received. The US dollar weakened against major currencies on Friday, dragged down by a surprising fall in US retail sales in August that once again dimmed hopes for an interest rate increase in December.

To look ahead, Dixon Technologies is set to list in the next week, ICICI Lombard will close in the same week. SBI Life IPO is also set to launch on Sept 20. Further, SBI Life Insurance Company is coming up with an IPO of up to 12 crore shares through an OFS by SBI and BNP Paribas Cardif of up to 8 crore shares and up to 4 crore shares. The IPO opens on 20 Sept and closes on 22 Sept 2017. The IPOs price band has been fixed at Rs 685 -700 per share.

Friday 15 September 2017

ICICI Lombard General Insurance IPO opens today

The Initial Public Offering of ICICI Lombard General Insurance Company will remain open for subscription today, Sept 15, and will close on Sept 19. The IPO will see ICICI Bank and Fairfax Financial Holdings sell about 86.24 million shares. The initial share sale values the company at Rs. 30,000 crore at the upper end of the price band level of Rs. 651 - 661 per share.

ICICIL is joint venture with ICICI Bank and Fairfax Financial Holdings. It is a multi-product general insurance player having market share, based on GDPI or gross direct premium income, of 8.4% among all non life insurers and 18% among private-sector non-life insurers.

ICICIL's investment assets jumped from Rs 10200 crore on March 31, 2015 to Rs. 15079 crore on March 31, 2017. It holds 18.0 percent share among private sector non-life insurers in the country and manages Rs. 164.5 billion of investment assets. ICICI Lombard General Insurance is the second large insurance company from the ICICI group to go public.

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