IPO price band fixed at Rs 300-334 per share
The initial public offer (IPO) of private sector life insurance company ICICI Prudential Life Insurance Company (ICICI Prudential) opens for bidding on 19 September 2016. The IPO closes on 21 September 2016. The price band for the IPO has been fixed at Rs 300 to Rs 334 per share.
ICICI Bank is offering for sale upto 18.13 crore equity shares of Rs 10 each of ICICI Prudential at a price to be determined through book building process.
ICICI Prudential is the largest private sector life insurer in India by total premium and assets under management at 31 March 2016. ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation Holdings, a part of the prudential Group, an international financial services group.
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