April 16, 2026 09:58 pm (IST)

Make this your homepage

All Finance

Bengal SIR: Supreme Court allows voters restored by tribunal till April 21 and 27 to vote | 'Women won't spare you': PM Modi warns Opposition over resistance to quota bill | Vijay booked in 3 cases over poll code violation ahead of Tamil Nadu polls | 'Black law': Stalin burns copy of 'delimitation' bill, slams Modi govt | TCS halts Nashik BPO operations amid sexual abuse, conversion allegations | ‘We are surprised’: SC stays Pawan Khera’s bail over remarks on Himanta Biswa Sarma’s wife | Historic shift: Bihar gets first BJP CM as Samrat Choudhary takes oath | 'ECI deviated from Bihar procedure': Supreme Court raises concerns over voter deletion in Bengal SIR | Noida workers’ protest turns violent: Stones pelted, vehicles damaged over wage hike demand | Oil prices jump above $103 a barrel as US moves to block Iran-linked shipping

India's largest first-time share sale in recent years likely soon

India Blooms News Service | | Jun 03, 2016, at 06:56 pm

Mumbai, Jun 3 (IBNS) ICICI Prudential Life Insurance Company, India's largest private-sector life insurer, is likely to announce an initial public offering (IPO) of rupees 60 billion, reported Bloomberg on Thursday based on information from people familiar with the matter.

If the IPO happens, it will be India's largest first-time share sell in the past six years.

Bloomberg said the company has already chosen the arrangers for the IPO. Bank of America Corp. and ICICI Securities Ltd. are to lead an offering scheduled for this year, according to sources.

Bloomberg refrained from naming the sources as the information is private.

"ICICI Prudential is seeking a listing at the same time as Indian rival HDFC Standard Life Insurance Co., a joint venture between Housing Development Finance Corp. and Standard Life Plc, is preparing an offering. The deals are slated to be the first listings from the country’s $50 billion life-insurance industry," reported Bloomberg.

ICICI Bank plans to sell part of its stake in the IPO, while Prudential Plc, which has a 26 percent holding, has not yet made a decision on the sale, according to Bloomberg's sources.

#initial public offering #ICICI Securities Ltd

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.

India
International

Related Images

Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:41 pm

Veedol signs former Indian skipper Sourav Ganguly as brand ambassador Jun 29, 2024, at 06:38 am

In Images: Glimpses from Bengali film Fatafati's premiere May 13, 2023, at 08:39 pm