The ICICI Prudential Life IPO is a book-built offering worth Rs 6,056.79 crores. The offering is essentially an offer to sell 18.13 crore shares. Bidding for the ICICI Prudential Life IPO began on September 19, 2016 and finished on September 21, 2016. On Monday, September 26, 2016, the allotment for the ICICI Prudential Life IPO was completed. On September 29, 2016, the shares were listed on the BSE and NSE. The pricing range for the ICICI Prudential Life IPO is $300 to $334 per share. An application requires a minimum lot size of 44 Shares. Retail investors must make a minimum investment of $14,696.
ICICI Prudential Life Insurance Company Ltd, founded in 2001 as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, is India’s largest private sector life insurer. This paragraph contains information supplied by chittorgarh.com, India’s No. 1 IPO Investment Portal. Customers of ICICI Prudential Life can choose from a variety of life insurance, health insurance, and pension products and services. ICICI Prudential sells its products and services through a large multi-channel sales network in India, comprising bank partner
branches, individual agents, corporate agents, employees, offices, and its website. In India, the company has a retail weighted received premium market share of 11.3%. On a retail weighted received premium basis, the Company has a market share of 21.9% among India’s 23 private sector life insurance firms.
IPO Highlights (As of March 31, 2016):
- ICICI Bank owns 68 percent of the company and selling 12.65% stake though this IPO.
- At the upper end of the price band, IPO will raise over Rs 6000 Cr.
- Britain’s Prudential PLC, which owns nearly 26% of the company, is not selling any of its stake in the IPO.
- Company has 121,016 individual agents and over 4,500 branches with Bank partners.
- Gross premium income was Rs 191.64 billion
- Company have 1.04 trillion of assets under management, making them one of the largest fund managers in India.
Competitive Strengths:
- Consistent Leadership across Cycles
- Delivering Superior Customer Value
- Diversified Multi-channel Distribution Network
- Leveraging Technology
- Robust and Sustainable Business Model
- Strong Brand
- Experienced Senior Management Team
ICICI Prudential Life IPO Details
| IPO Date | September 19, 2016 to September 21, 2016 |
| Listing Date | September 29, 2016 |
| Face Value | ₹10 per share |
| Price Band | ₹300 to ₹334 per share |
| Lot Size | 44 Shares |
| Total Issue Size | 181,341,058 shares (aggregating up to ₹6,056.79 Cr) |
| Offer for Sale | 181,341,058 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
ICICI Prudential Life IPO Timeline
| IPO Open Date | Monday, September 19, 2016 |
| IPO Close Date | Wednesday, September 21, 2016 |
| Basis of Allotment | Monday, September 26, 2016 |
| Initiation of Refunds | Tuesday, September 27, 2016 |
| Credit of Shares to Demat | Wednesday, September 28, 2016 |
| Listing Date | Thursday, September 29, 2016 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 21, 2016 |
ICICI Prudential Life IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | – | NA |
| QIB Shares Offered | 32,641,391 (24.66%) | NA |
| NII (HNI) Shares Offered | 24,481,043 (18.49%) | |
| Retail Shares Offered | 57,122,434 (43.15%) | 1,298,237 |
| Other Shares Offered | 18,134,105 (13.70%) | NA |
| Total Shares Offered | 132,378,973 (100%) |
ICICI Prudential Life IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 44 | ₹14,696 |
| Retail (Max) | 13 | 572 | ₹191,048 |
Objects of the Issue (ICICI Prudential Life IPO Objectives)
The objects of the Offer are
- To achieve the benefits of listing the Equity Shares of the Company on the Stock Exchanges and
- To carry out the sale of up to 181,341,058 Equity Shares by the Selling Shareholder.
ICICI Prudential Life IPO Listing Details
| Listing Date | September 29, 2016 |
| BSE Script Code | 540133 |
| NSE Symbol | ICICIPRULI |
| ISIN | INE726G01019 |
| Final Issue Price | ₹334 per share |
ICICI Prudential Life Listing Day Trading Information
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹334.00 | ₹334.00 |
| Open | ₹329.00 | ₹330.00 |
| Low | ₹295.50 | ₹295.15 |
| High | ₹333.90 | ₹333.90 |
| Last Trade | ₹297.65 | ₹297.55 |
ICICI Prudential Life Insurance Company Ltd Contact Details
ICICI Prudential Life Insurance Company Ltd
ICICI PruLife Towers,
1089, Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400 025
Phone: +91 22 4039 1600
Email: [email protected]
Website: https://www.iciciprulife.com
ICICI Prudential Life IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://kosmic.kfintech.com
ICICI Prudential Life IPO FAQs
Q1. What is ICICI Prudential Life IPO?
Ans. ICICI Prudential Life IPO is a main-board IPO of 181,341,058 equity shares of the face value of ₹10 aggregating up to ₹6,056.79 Crores. The issue is priced at ₹300 to ₹334 per share. The minimum order quantity is 44 Shares. The IPO opens on September 19, 2016, and closes on September 21, 2016.
Q2. When ICICI Prudential Life IPO will open?
Ans. The ICICI Prudential Life IPO opens on September 19, 2016 and closes on September 21, 2016.
Q3. What is the lot size of ICICI Prudential Life IPO?
Ans. ICICI Prudential Life IPO lot size is 44 Shares, and the minimum amount required is ₹14,696.
Q4. When is ICICI Prudential Life IPO listing date?
Ans. The ICICI Prudential Life IPO listing date is on September 29, 2016.
