As per the various news mediums and websites, the ICICI Lombard General Insurance Company Limited will soon launch its IPO. I want to apply for the IPO but I do not know what to do? Should I apply or not. Please share your views on the issue.
This IPO is pure OFS means offer for sale. ICICI Lobmard will not receive anything from the share sale. All the money will go to its promoters. One of the promotors ICICI banks shares is up today after the announcement of the IPO. We can apply for the short term or the listing day profits.
Ipo price is Rs. 651 to 661. This is offer for Sale. The company intends to raise up to Rs 5,700 crore at the upper end of the price band. ICICI is the largest private sector non-life insurance company. The current valuation of the company is at Rs 30, 000 cr (50% jump from the previous valuation of Rs 20, 000 cr in March this year).
According to the Chanda Kochhar, Chairperson of ICICI Lombard General Insurance, “The company is growing at a very robust space with a very sustainable model and has been generating, for the past two three years, a ROE of more than 15%. “