The initial public offering (IPO) of ICICI Lombard General Insurance launches this week. The Rs 5,700 crore offering is the second in the insurance sector. ICICI Bank and Fairfax, will together sell roughly 86 million shares at a price band of Rs 651-661. ICICI Bank is selling 7.15 per cent stake, while Fairfax is selling 12.3 per cent. No new shares are being issued. Fairfax will retain a stake of just under 10 per cent post-IPO, while ICICI Bank will hold 58 per cent.
The band implies a valuation of roughly Rs 30,000 crore, if the upper end is hit. The
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