ICICIprulife.com – ICICI Prudential Life Insurance Co Ltd is all set to file their biggest public IPO. Under the cover of ICICI Bank LTD, india’s one of the known insurance company ICIC Pru Life is going for public IPO.
ICICI Prudential Life Insurance IPO – $764 million IPO of ICICI Pru Life
And the Public IPO is not so small, its Rs.50 Billion ($764 million). Around after one month of this, ICICI will come up with Public IPO notification where they are going to ask for Rs.500cr.
Financial Condition of ICICI Pru Life
ICICI Prudential life insurance company limited is not solely owned by ICICI Bank, its a joint venture. ICICI Bank owns 68% of ICICI Pru life insurance and Britain’s Prudential PLC owns 26%. Remaining 2% is owned by Singapore state investor Temasek and well known investor Aziz Premji’s Premji invest.
As per the information from sources, it is ICICI Bank which is going to sell their stack via public IPO. None from ICICI Bank and ICICI Pru Life has made any official comment, but most probably in August, 2016 the IPO will be lunched.
Management of ICICI Pru Life
As per the current listings, ICICI Prudential Life Insurance Company Limited is managed by Mr. Sandeep Bakshi and he is at CEO role as well. Puneet nanda is CMO and Sandeep Batra as Executive Director.