In a 14 September note, Kotak Institutional Equities said it values ICICI Prudential Life at Rs410 billion (Rs41,000 crore, or Rs285 per share) as on June 2018. Photo: ReutersMumbai: ICICI Prudential Life Insurance Co. Ltd’s Rs6,000-crore new share sale that opens on Monday may not offer much of a listing pop as valuations appear stretched, according to four brokerages. The price band of Rs300-334 per share values the firm at Rs47,957 crore at the upper end. Also Read: ICICI Prudential’s Rs6,000 crore IPO to open on MondayAngel Broking has a ‘neutral’ rating on the IPO as it believes all positives are priced in. ICICI Prudential is India’s second largest life insurance firm with a market share of 21.9% in the private sector and 11.3% share in the overall industry.

Source: Mint September 18, 2016 17:26 UTC