The IPO of ICICI Lombard General Insurance will launch 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 last private
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