ICICI Pru IPO: Things To Know Before Investing In The IPO

Published: Saturday, September 17, 2016, 12:40 [IST]

ICICI Prudential is coming with Initial Public Offering of Rs 6,000 crore on Monday September 19, 2016 which is the first by an insurer in India.

Here are 6 things you should know about ICICI Prudential IPO:

IPO Range

The bank IPO will be priced in the range of Rs 300-334 per share. The IPO constitutes 12.63 per cent of the post-offer paid-up equity share capital of the company.

The net offer will constitute 11.37 per cent of the post-offer, paid-up equity share capital of the company, the companys executive director Puneet Nanda said, reports PTI.

Lead runners

Bank of America Merrill Lynch and ICICI Securities are global book running lead merchant bankers (BRLM) to the issue. Others include CLSA, Deutsche, Edelweiss, HSBC, IIFL, JM Financial and SBI Capital Markets.

Promoters

ICICI Bank and UK's Prudential Corporation Holdings are the major promoters of ICICI Prudential Life Company.

As per PTI report, ICICI Bank holds around 68 per cent stake, while UK's Prudential holds 26 per cent stake in the ICIC Pru.

Among other major shareholders, PremjiInvest has 4 per cent in the insurance company while Temasek owned 2 per cent.

For ICICI Bank shareholders

The proposed public offer has reservation of up to 18,134,105 equity shares of face value of Rs 10 each for shareholders of ICICI Bank.

Financials

ICICI Prudential reported net profit of Rs 250.91 crore against Rs 45.75 crore last year. The insurance company reported net loss of Rs 1,970.46 crore, Rs 1,168.52 crore and Rs 1,041.85 crore in FY12, FY13 and FY14, respectively.