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ICICI Bank Gains On Insurance Subsidiary IPO Opening


Shares of ICICI Bank rose more than one per cent on Monday after its insurance subsidiary opened for subscription today.

ICICI Bank Gains On Insurance Subsidiary IPO Opening

ICICI Bank holds 67.52 percent stake and Prudential Corporation Holdings 25.83 percent stake in the ICICI Pru insurance company. Also, PremjiInvest has 4 percent stake and Temasek owns 2 percent in the insurance company.

The bank IPO will be priced in the range of Rs 300-334 per share. 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.

ICICI Pru is registered with IRDAI for carrying out the business of life insurance pursuant to the registration certificate dated November 24, 2000.

Shares of ICICI Bank were seen trading at Rs 270, higher by 1.23 per cent on NSE at 11.04 am IST. It touched an intra-day high of Rs 272 during trade.

Read more about: icici bank icici pru insurance ipo
Story first published: Monday, September 19, 2016, 12:13 [IST]
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