ALSO READICICI Bank, Fairfax to pare stakes in Indian insurer ICICI Lombard IPO ICICI Bank to sell stake in general insurance JV RBL to mop up Rs 1680-cr from PE funds ICICI Prudential Life Insurance Company allots 44,100 equity shares ICICI Prudential Life Insurance Company allots 10,600 equity shares
Public offer comprises of 86,247,187 Equity Shares (19% of equity share capital)ICICI Bank announced that its subsidiary, ICICI Lombard General Insurance Company has filed a draft red herring prospectus with the Securities and Exchange Board of India for a public offer of up to 86,247,187 Equity Shares of face value of Rs 10 each ('Equity Shares') of ICICI Lombard General Insurance Company, representing approximately 19.0% of its equity share capital, for cash through an offer for sale of up to 31,761,478 Equity Shares by ICICI Bank and up to 54,485,709 Equity Shares by FAL Corporation. The offer includes a proposed reservation of up to 4,312,359 Equity Shares (5.0% of the offer) for individual and Hindu Undivided Family ('HUF') shareholders of ICICI Bank.
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