Business Mantra News
A very big size IPO is going to hit Indian share market. ICICI Prudential Life Insurance Co. will be the first insurance co. in India to bring a public Issue. It will be a very big size issue, more than 6000 crore rupees. The issue is scheduled to open for subscription on September 19, 2016.
Issue will be listed on BSE and NSE. ICICI Prudential Life Insurance Co. is a joint venture between ICICI Bank and Prudential Corporation Holdings of UK. Present share holding pattern of company is as follows:-
ICICI Bank 68%
Prudential Corporation Holdings 26%
Miscellaneous share holders 6%
Price band range of the issue would be Rs. 300 to Rs. 334.00 per share.
It would be second largest IPO in Indian share market, the first one being Coal India Ltd. IPO in 2010 for Rs. 15000 crores. Two more IPOs will hit the market in September 2016 are L & T Technology services and GNA Axels.