ICICI Lombard General Insurance Company Limited today said it will launch its initial public offering on September 15.
The issue of the company will open on September 15 and close on September 19. Through this IPO, the promoters will dilute up to 86,247,187 equity shares with a face value of Rs 10 each of ICICI Lombard. ICICI Lombard IPO: Know The Details
The price band of the IPO has been fixed in the range of Rs 651- Rs 661 per equity share, Sanjeev Mantri, executive director of the company said.
ICICI Lombard is a joint venture between ICICI Bank and Canada-based Fairfax Financial Holdings Ltd. ICICI Lombard is the largest private-sector non-life insurer in India based on gross direct premium income in fiscal 2017.
Earlier last week, ICICI Lombard General Insurance Company received go-ahead from capital market regulator Sebi for the IPO, which would be the first by a general insurer in the country.