ICICI Prudential Life Insurance IPO Details

   ICICI Prudential Life Insurance IPO Details

ICICI Prudential Life Insurance IPO is all set to hit the primary markets on September 19, 2016. The IPO open The Price Band for ICICI Prudential Life Insurance IPO is fixed at Rs. 300 to Rs.334 per equity shares with a face value of Rs. 10 per share. Issue size of this IPO would be approximately Rs. 4800 crore. Check out the various important details such as ICICI Prudential Life Insurance IPO price band, Listing date, allotment status of ICICI Prudential Life Insurance IPO in this post.

Allotment Status: Check Your ICICI Prudential Life Insurance IPO Allotment Status Here

The company had filed a Draft Red Herring Prospectus (DRHP) to the hit the capital market with an Initial public offering to raise $745 million. Hence this IPO is going to be biggest one in last couple of years.

ICICI Prudential Life insurance is a joint venture of ICICI Bank and Britain’s Prudential Corporation Holdings Limited (PCHL). ICICI Bank owns 68% of the company is selling 181.34 millions shares through this IPO but Prudential PLC will be retaining its 26% stake by choosing not to sell any shares. 

   Important Numbers for ICICI Prudential Life Insurance IPO

Below are the important information about the ICICI Prudential Life Insurance IPO.

  • ICICI Pru IPO Price Band:  Rs 300- Rs334 per share
  • Issue Face Value : Rs 10 per share
  • Issue Size: 181,341,058 equity shares
  • Order Quantity : Minimum 44 Shares and multiple thereof

Prospectus : Download the ICICI Prudential Life Insurance IPO Draft Red Herring Prospectus (DRHP) here

   ICICI Prudential Life Insurance IPO Schedule

Important dates with respect to ICICI Prudential Life Insurance IPO are as follows

  • Participation by Anchor Investors     : 16-September-2016
  • ICICI Prudential Life Insurance Issue Bid Open Date :  19-September-2016
  • ICICI Prudential Life Insurance Issue Bid Close Date : 21-September-2016
  • Finalization of Basis of Allotment : 26-September-2016
  • Unblocking of Funds from ASBA Account : 27-September-2016
  • Credit of ICICI Prudential Life Insurance Shares to Demat Account : 28-September-2016
  • Commencement of trading of ICICI Prudential Life Insurance share on NSE and BSE (Listing) : 29-September-2016

   ICICI Prudential Life Insurance IPO Grey Market Premium (GMP) Trend

Following graph shows the trend in Grey Market Premium (GMP) of ICICI Prudential Life Insurance IPO. GMP is unofficial way of finding the price at which the shares of a particular IPO may list on listing day.

   ICICI Prudential Life Insurance IPO Subscription Details

ICICI Prudential Life Insurance IPO subscription details will be consequently updated in the below table , do visit again at the end of each day to know the details.

CategoryDay1 (19 Sep )Day2 (20 Sep )Day3 (21 Sep )
Retail0.250.651.37
QIB0.060.5911.83
NII0.040.1528.55
Total0.160.5210.46

   Objects of the ICICI Prudential Life Insurance IPO Issue

  • To achieve the benefits of listing the Equity Shares of the Company on the Stock Exchanges.
  • To carry out the sale of up to 181,341,058 Equity Shares.
  • To enhance company’s brand name.
  • To provide liquidity to the existing shareholders.
  • To provide a public market for the Equity Shares in India.

   ICICI Prudential Life Insurance  : Company Profile

The company was incorporated on July 20, 2000 at Mumbai in India. ICICI Prudential Life Insurance currently offering a range of life insurance, health insurance and pension products and services to its respective customers through an extensive multi-channel sales network across India through the branches of its bank partners, individual agents, corporate agents, employees, offices and website. The bank partners of company had over 4500 branches as per the record of July 2016. This company is a joint venture between ICICI Bank Limited which the largest private sector bank in terms of total assets with an asset base of 7.2 trillion at March, 2016, and Prudential Corporation Holdings Limited, a part of the Prudential Group, an international financial services group with GBP 509 billion of assets under management at December 31, 2015.

icici-prudential-life-insurance-ipo-review


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In India , it is one of the largest private sector life insurer with total premium in fiscal 2016 and assets under management at March, 2016. It is the first life insurance company in private sector and started its operation in fiscal 2001. The company has a wholly owned subsidiary, ICICI Prudential Pension Funds Management Company Limited, which is registered as a fund manager with the Pensions Fund Regulatory and Development Authority of India

  Details of Important Stake Holders of ICICI Prudential Life Insurance IPO

Following table captures the contact information of the company, Registrar and the lead managers of this particular IPO.

Contact Information
AddressContact Details
ICICI Prudential Life Insurance Company Ltd
ICICI PruLife Towers,
1089, Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400 025
Phone: +91 22 4039 1600
Fax: +91 22 6662 2031
Email: investor@iciciprulife.com
Registrar Information
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad - 500 034



Phone: +91-40-23312454
Email: einward.ris@karvy.com
Lead Managers
ICICI Securities Limited
ICICI Center, H.T. Parekh Marg
Churchgate
Mumbai 400 020
Tel: (91 22) 2288 2460
Fax: (91 22) 2282 6580
E-mail: iprulife.ipo@icicisecurities.com
DSP Merrill Lynch Limited
Ground Floor, A Wing, One BKC
G Block, Bandra Kurla Complex
Bandra (East), Mumbai 400 051

Tel: (91 22) 6632 8000
Fax: (91 22) 2204 8518
E-mail: dg.iciciprudential_ipo@baml.com

Edelweiss Financial Services Limited
14th Floor, Edelweiss House
Off. C.S.T. Road, Kalina
Mumbai 400 098
Tel: (91 22) 4086 3535
Fax: (91 22) 4086 3610
E-mail:iciciprulife.ipo@edelweissfin.com
CLSA India Private Limited#
8/F Dalamal House
Nariman Point
Mumbai 400 021
Tel: (91 22) 6650 5050
Fax: (91 22) 2284 0271
E-mail: iciciprulife.ipo@citicclsa.com
Company Promoters
ICICI Bank and Prudential Corporation Holdings Limited

  ICICI Prudential Life Insurance Financial Details

 Below Table captures how the ICICI Prudential Life Insurance has performed in terms revenue and profit over the years.

ICICI Prudential Life Insurance Financials
03/201203/201303/201403/201503/2016
Premium Income ( Rs Million)
139,278134,172122,826151,604189,987
Total revenues ( Rs Million)18,24421,91016,60716,77518,122
Profit After Tax (Rs Million)13,85615,15415,16316,40316,527
Profit %76%69.2%94%97.8%91.2%
Revenue Growth (YoY %)NA20%-24%1%8%

  ICICI Prudential Life Insurance Strengths

  • Consistent Leadership across Cycles in insurance field.
  • Delivering Superior Customer Value.
  • Diversified Multi-channel Distribution Network.
  • Robust and Sustainable Business Model.
  • Efficient Senior Management Team
  • Strong brand leveraging superior technology

  ICICI Prudential Life Insurance Risk Factors

  • Company’s business, financial condition, results of operations and prospects may be materially and adversely affected if Its product mix changes or if they are not able to maintain Its market position or sustain Its growth.
  • Any termination of, or any adverse change to, Its relationships with or performance of Its partners, including with ICICI Bank and Standard Chartered Bank, may have a material adverse effect on Its business, financial condition, results of operations and prospects.
  • Changes in the regulatory environment in which they operate could have a material adverse effect on Its business, financial condition, results of operations and prospects.
  • Its Company and its Directors and Its Subsidiary, one of Its Promoters and certain Group Companies are involved in certain legal and other proceedings.
  • Any adverse effect on the equity markets in India could have a material adverse effect on Its business, financial condition and results of operations.
  • Changes in market interest rates could have a material adverse effect on Its business and profitability Significant deviations from Its assumptions regarding future persistency, coupled with concentrated policy surrenders, could have a material adverse effect on Its business, financial condition, results of operations and prospects.
  • Higher expenses than expected could have a material adverse effect on Its business, financial condition and results of operations.
  • They could be subject to claims by the customers and/or regulators for alleged mis-selling.
  • There are operational risks associated with the insurance industry, which, when released, may have a material adverse effect on Its business, financial condition, results of operations and prospects.
  • Its business may be subject to periodic negative publicity, which could have a material adverse effect on Its business, financial condition, results of operations and prospects.

  Sharing is Definitely Caring

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Disclaimer : No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial adviser prior to making any actual investment decisions, based on information published here in the ICICI Prudential Life Insurance IPO. The author cannot be held liable for any loss arising by following this review.

  

  
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