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.
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