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ICICI Lombard IPO to hit market on September 15

ICICI Lombard is a joint venture between ICICI Bank and Canada-based Fairfax Financial Holdings Ltd

Press Trust of India  |  New Delhi 

ICICI Lombard IPO to hit market on September 15

General Insurance Company's estimated Rs 6,000-crore initial public offer (IPO) will open for subscription on September 15.

"The offer will open for subscription to the public on September 15, 2017, and shall close on September 19, 2017," said in a regulatory filing.


The bank added that the price band for the offer will be advertised at least five working days prior to the subscription opening date.

Earlier this week, General Insurance Company got capital market regulator Sebi's go-ahead for the IPO, which would be the first by a general insurer in the country.

Two state-run general insurers — General Insurance Corporation of India and — as also two life insurance firms (SBI Life and HDFC Standard Life) have also lined up plans and are awaiting Sebi's approval.

is a joint venture between and Canada-based Fairfax Financial Holdings Ltd. The involves dilution of up to 86,247,187 equity shares of face value of Rs 10 each of General Insurance. According to market sources, the could be worth about Rs 6,000 crore.

Shares of were trading 0.51 per cent higher at Rs 296.75 on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, September 07 2017. 11:30 IST
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