ICICI Prudential Life Insurance Company Limited IPO
Incorporated in 2001 as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, ICICI Prudential Life Insurance Company Ltd is a Mumbai based largest private sector life insurer in India.
ICICI Prudential Life offer a range of life insurance, health insurance and pension products and services to its customers. ICICI Prudential offers the products and services through an extensive multi-channel sales network across India, including through the branches of bank partners, individual agents, corporate agents, employees, offices and its website.
Company has a market share of 11.3% on a retail weighted received premium basis in India. Among the 23 private sector life insurance companies in India, Company has a market share of 21.9% on a retail weighted received premium basis.
IPO Highlights (As of March 31, 2016):
1. ICICI Bank owns 68 percent of the company and selling 12.65% stake though this IPO.
2. At the upper end of the price band, IPO will raise over Rs 6000 Cr.
3. Britain’s Prudential PLC, which owns nearly 26% of the company, is not selling any of its stake in the IPO.
4. Company has 121,016 individual agents and over 4,500 branches with Bank partners.
5. Gross premium income was Rs 191.64 billion
6. Company have 1.04 trillion of assets under management, making them one of the largest fund managers in India.
Competitive Strengths:
1. Consistent Leadership across Cycles
2. Delivering Superior Customer Value
3. Diversified Multi-channel Distribution Network
4. Leveraging Technology
5. Robust and Sustainable Business Model
6. Strong Brand
7. Experienced Senior Management Team
Objects of the Issue:
Listing Date: Sep 29 2016
Issue Details:
| Open Date: | Sep 19 2016 |
| Close Date: | Sep 21 2016 |
| Total Shares: | 181,341,058 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Book Built Issue IPO |
| Issue Size: | 6,056.79 Cr. |
| Lot Size: | 44 Shares |
| Issue Price: | ₹ 300-334 Per Equity Share |
| Listing At: | NSE |
| Listing Date: | Sep 29 2016 |
Company Financials:
| Particulars | For the year/period ended (in Rs. Million) | ||||
|---|---|---|---|---|---|
| 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |
| Total Assets | 1,025,637.0 | 990,573.2 | 801,027.5 | 740,839.2 | 716,880.0 |
| Total Revenue | 18,122.4 | 16,775.5 | 16,607.1 | 21,910.5 | 18,244.6 |
| Profit After Tax (PAT) | 16,527.2 | 16,403.5 | 15,613.5 | 15,154.1 | 13,856.9 |
