ICICI Prudential Life Insurance IPO Details
Our Company was incorporated at Mumbai on July 20, 2000 as ICICI Prudential Life Insurance Company Limited, a public limited company under the Companies Act, 1956. Our Company obtained the
certificate of commencement of business on October 16, 2000.
OUR PROMOTERS: ICICI BANK LIMITED AND PRUDENTIAL CORPORATION HOLDINGS LIMITED
PUBLIC OFFER OF UP TO 181,341,058 EQUITY SHARES OF FACE VALUE OF ` 10 EACH (“EQUITY SHARES”) OF ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED (OUR “COMPANY”) FOR CASH AT A PRICE OF ` [•] PER EQUITY SHARE, THROUGH AN OFFER FOR SALE BY ICICI BANK LIMITED (“PROMOTER SELLING
SHAREHOLDER”), AGGREGATING UP TO ` [•] MILLION (THE “OFFER”), INCLUDING A RESERVATION OF UP TO 18,134,105 EQUITY SHARES FOR PURCHASE BY ICICI BANK SHAREHOLDERS FOR CASH AT A PRICE OF `[•] PER EQUITYSHARE AGGREGATING UP TO `[•] MILLION (THE “ICICI BANK SHAREHOLDERS
RESERVATION PORTION”). THE OFFER WOULD CONSTITUTE 12.63% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL AND THE NET OFFER SHALL CONSTITUTE 11.37% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL.
Issue Start Date : 19th Sep 2016
Issue End Date : 21st Sep 2016
Price Minumum : Rs.300
Price Maximum : Rs.334
Minumum Bid Quantity : 44
Risks to Investors relating to pricing:
• The GCBRLMs and the BRLMs to the Offer have handled 30 public issues in the past three years out of which 8 issues closed below the issue price on the listing date.
• The Price/Earnings ratio based on consolidated diluted EPS for Fiscal 2016 for the Company at the upper end of the Price Band is 29.0 times. There are no listed life insurance companies in India and hence average P/E ratio for the industry is not available. Average P/E ratio for S&P BSE SENSEX for the last quarter ended June 30, 2016 was 19.26 times. P/E ratio for S&P BSE SENSEX as on September 7, 2016 was 21.38 times. Average P/E ratio for NIFTY 50 for the last quarter ended June 30, 2016 was 21.80 times. P/E ratio for NIFTY 50 as on September 7, 2016 was 24.45 times.
• Average cost of acquisition of Equity Shares for the Promoter Selling Shareholder in the Offer is Rs. 36.19 per Equity Share and the Offer Price at the upper end of the Price Band is Rs. 334 per Equity Share. This average cost of acquisition of the Equity Shares for Promoter Selling Shareholder is significantly lower as compared to the upper end of the Price Band.
• The Price/Earnings ratio based on consolidated diluted EPS for Fiscal 2016 for the Company at the upper end of the Price Band is 29.0 times. There are no listed life insurance companies in India and hence average P/E ratio for the industry is not available. Average P/E ratio for S&P BSE SENSEX for the last quarter ended June 30, 2016 was 19.26 times. P/E ratio for S&P BSE SENSEX as on September 7, 2016 was 21.38 times. Average P/E ratio for NIFTY 50 for the last quarter ended June 30, 2016 was 21.80 times. P/E ratio for NIFTY 50 as on September 7, 2016 was 24.45 times.
• Average cost of acquisition of Equity Shares for the Promoter Selling Shareholder in the Offer is Rs. 36.19 per Equity Share and the Offer Price at the upper end of the Price Band is Rs. 334 per Equity Share. This average cost of acquisition of the Equity Shares for Promoter Selling Shareholder is significantly lower as compared to the upper end of the Price Band.
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