New stock market listing from ICICI group

in #icici7 years ago

New stock market listing from ICICI group. Expert reviews are positive about the growth of ICICI Lombard listing.

ICICI Lombard makes tepid debut, lists at 1.66% discount to issue price

ICICI Lombard General Insurance Company on Wednesday made a tepid debut on BSE, as the scrip got listed at Rs 650, a 1.66 per cent discount to its issue price of Rs 661 per share

The initial public offer (IPO), the first by any general insurance company, was sold in at Rs 651-661 price band during September 15-19.

The Rs 5,700 crore issue had receive good investor response. It was subscribed 3 times.

Most analysts have a positive view on the insurer's growth prospects. But given the valuations that factor in much of the positives, only a few of them had predicted healthy listing gains.

ICICI Lombard is the largest private-sector non-life insurer in India based on gross direct premium income and company has maintained this position 2004. It is a is a joint venture between ICICI BankBSE -1.73 % and Canadian NRI Prem Watsa-promoted Fairfax Financial Holdings.

Most analysts have a positive view on the insurer's growth prospects. But given the valuations that factor in much of the positives, only a few of them had predicted healthy listing gains.

ICICI Lombard is the largest private-sector non-life insurer in India based on gross direct premium income and company has maintained this position 2004. It is a is a joint venture between ICICI BankBSE -1.73 % and Canadian NRI Prem Watsa-promoted Fairfax Financial Holdings.

Read more at:
http://economictimes.indiatimes.com/articleshow/60850737.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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