ICICI Prudential will become the first Indian insurer to list its shares on an exchange. ICICI Prudential Life Insurance's IPO, worth up to Rs 6,057 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 Rs 334, the top-end of the price band, aggregating Rs 1,635.33 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. Post allocation to the anchor investors, more than 132 million shares will be available for subscription in the offer.

Source: dna September 18, 2016 08:21 UTC