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ICICI Lombard files for first Indian IPO by a non-life insurer

Reuters  |  MUMBAI 

By Devidutta TripathyMUMBAI (Reuters) - ICICI Lombard General Insurance Co Ltd has filed for an initial public offering (IPO) of shares in what would be the first IPO by a non-life insurance company in Asia's third-largest economy.ICICI Lombard's two main shareholders - ICICI Bank Ltd and Fairfax Financial Holdings Ltd - will sell a combined 19 percent stake in the insurer in the IPO, according to the filing released on Friday. ( estimate the IPO could raise 60 billion rupees ($932 million), making it one of the biggest Indian IPOs in recent years. India's IPO ...

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First Published: Fri, July 14 2017. 20:38 IST