ICICI Lombard General Insurance Company Limited files DRHP for IPO

ICICI Bank Limited's ('ICICI Bank') subsidiary company, ICICI Lombard General Insurance Company Limited has filed a draft red herring prospectus with the Securities and Exchange Board of India for a public offer of up to 86,247,187 Equity Shares of face value of Rs. 10 each ('Equity Shares') of ICICI Lombard General Insurance Company Limited, representing approximately 19.0% of its equity share capital, for cash through an offer for sale of up to 31,761,478 Equity Shares by ICICI Bank and up to 54,485,709 Equity Shares by FAL Corporation.

The offer includes a proposed reservation of up to 4,312,359 Equity Shares (5.0% of the offer) for individual and Hindu Undivided Family ('HUF') shareholders of ICICI Bank.

Shares of ICICI BANK LTD. was last trading in BSE at Rs.298 as compared to the previous close of Rs. 297.75. The total number of shares traded during the day was 388811 in over 3081 trades.

The stock hit an intraday high of Rs. 299.8 and intraday low of 294.55. The net turnover during the day was Rs. 115388609.

Source : Equity Bulls

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