ICICI Prudential Life Insurance, which is set to hit the business sector one week from now, intends to raise Rs 6,000 crore through the underlying open offer (IPO)ICICI Prudential Life Insurance, which is set to hit the business sector one week from now, expects to raise Rs 6,000 crore through the underlying open offer (IPO).
The safety net provider's underlying offer deal, which will open on September 19 and close on September 21, includes an offer of up to 18,13,41,058 value shares of a face estimation of Rs 10 each by its shareholders including the promoter ICICI Bank through an offer available to be purchased.
Initial public offering constitutes 12.63 for every penny of the post-offer paid-up value offer capital of the organization. The net offer will constitute 11.37 for each penny of the post-offer, paid-up value offer capital of the organization, the organization's official executive Puneet Nanda said.
It is the nation's first back up plan to dispatch an open offer and has altered IPO value band at Rs 300-334 for every value offer to raise around Rs 6,000 crore.
In the 2015-16 monetary, ICICI Pru Life all out premium remained at Rs 19,164 crore. Its persistency proportion was 82.4 for each penny, the most elevated in the division, while AUM was at Rs 1.09 trillion (Rs 1.09 lakh crore). The aggregate costs of the element are one of the most minimal at 14.6 for every penny.
The general piece of the overall industry of the organization was 11.3 for each penny on retail weighted got premium last monetary.