Ahead of the IPO, ICICI Prudential has allocated over 4.89 crore shares at Rs334, the top-end of the price band, aggregating Rs1,635.33 crore to a clutch of anchor investors from India and abroad. New Delhi: ICICI Prudential Life Insurance’s IPO, worth up to Rs6,057 crore and biggest for Indian markets in about six years, will hit the capital market on Monday. Ahead of the IPO, ICICI Prudential has allocated over 4.89 crore shares at Rs334, the top-end of the price band, aggregating Rs1,635.33 crore to a clutch of anchor investors from India and abroad. Last November, ICICI Bank sold nearly 6% stake in ICICI Prudential to Temasek and PremjiInvest. The shares were offloaded for around Rs1,950 crore valuing the insurer at Rs32,500 crore.

Source: Mint September 18, 2016 10:07 UTC