ICICI Lombard IPO - ICICI LOMBARD GENERAL INSURANCE IPO REVIEW
Business description from prospectus – ICICI Lombard was the largest private-sector non-life insurer in India based on gross direct premium income in fiscal 2017, a position it has maintained since fiscal 2004 after being one of the first few private-sector companies to commence operations in the sector in fiscal 2001.
It offers a comprehensive and well-diversified range of products, including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels.
The company was founded as a joint venture between ICICI Bank Limited, India’s largest private-sector bank in terms of consolidated total assets with an asset base of INR9.9 trillion at March 31, 2017, and Fairfax Financial Holdings Limited, a Canadian based holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management with USD43.38 billion of total assets at December 31, 2016.
In fiscal 2017, ICICI Lombard issued 17.7 million policies and its gross direct premium income was INR107.25 billion, translating into a market share, on a gross direct premium income basis, of 8.4% among all non-life insurers in India and 18.0% among private-sector non-life insurers in India.
Its key distribution channels are direct sales, individual agents, bank partners, other corporate agents, brokers, and digital, through which it services individual, corporate and government customers.
Its distribution network enables us to reach customers in 618 out of 716 districts across India.
Promoter of ICICI Lombard General Insurance Company – ICICI Bank Limited
|ICICI Lombard IPO details|
|Subscription Dates||15 – 19 September 2017|
|Price Band||INR651 – 661 per share|
|Offer For Sale||86,247,187 shares (INR5,614.7 – 5,700.9 crore)|
|Total IPO size||86,247,187 shares (INR5,614.7 – 5,700.9 crore)|
|Minimum bid (lot size)||22 shares|
|Face Value||INR10 per share|
|Listing On||NSE, BSE|
ICICI Lombard’s financial performance (in INR crore)
|Profit after tax||380.1||551.5||585.8||504.1||622.1|
ICICI Lombard General Insurance Company Limited
15th Floor, Tower B, Peninsula Business Park,
Lower Parel, Mumbai 400 013
Phone: +91 22 6196 1100
Fax: +91 22 6196 1323
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Fax: +91 40 2343 1551
Earnings Per Share (EPS): INR13.81
Price/Earnings (P/E) ratio: 47.14 – 47.86
Return on Net Worth (RONW): 17.82%
Net Asset Value (NAV): INR82.57 per share
ICICI Lombard IPO Subscription Details
|Category||Shares offered||Subscription (no.
of times, at 5 PM)
|Day 1||Day 2||Day 3|
|ICICI Bank shareholders||4,312,359||0.21||0.58||0.98|
ICICI Lombard IPO allotment status is now available on Karvy Computershare’s website.
Click on this linkto get allotment status. You can also check allotment status using application number on this link.
IPO Opening Date: 15 September 2017
IPO Closing Date: 19 September 2017
Finalisation of Basis of Allotment: 22 September 2017
Initiation of refunds: 25 September 2017
Transfer of shares to demat accounts: 26 September 2017
Listing Date: 27 September 2017
Listing Price on NSE: INR651.1 per share (down 1.5% from IPO price)
Closing Price on NSE: INR681.2 per share (up 3.05% from IPO price)