January 01, 2026 11:33 pm (IST)

Make this your homepage

All Finance

New Year horror in Switzerland: Dozens feared dead in Crans-Montana bar explosion | Tobacco stocks crushed as govt slaps fresh excise duty from Feb 1 | Vodafone Idea shares explode 10% after surprise settlement and govt relief boost | No third party involved: India govt sources refute China’s Operation Sindoor ceasefire claim | Amit Shah blasts TMC over border fencing; Mamata fires back on Pahalgam and Delhi blast | 'A profound loss for Bangladesh politics': Sheikh Hasina mourns Khaleda Zia’s death | PM Modi mourns Khaleda Zia’s death, hails her role in India-Bangladesh ties | Bangladesh’s first female Prime Minister Khaleda Zia passes away at 80 | India rejects Pakistan’s Christmas vandalism remarks, cites its ‘abysmal’ minority record | Minority under fire: Hindu houses torched in Bangladesh village

India's largest first-time share sale in recent years likely soon

India Blooms News Service | | Jun 03, 2016, at 06:56 pm

#initial public offering #ICICI Securities Ltd

Mumbai, Jun 3 (IBNS) ICICI Prudential Life Insurance Company, India's largest private-sector life insurer, is likely to announce an initial public offering (IPO) of rupees 60 billion, reported Bloomberg on Thursday based on information from people familiar with the matter.

If the IPO happens, it will be India's largest first-time share sell in the past six years.

Bloomberg said the company has already chosen the arrangers for the IPO. Bank of America Corp. and ICICI Securities Ltd. are to lead an offering scheduled for this year, according to sources.

Bloomberg refrained from naming the sources as the information is private.

"ICICI Prudential is seeking a listing at the same time as Indian rival HDFC Standard Life Insurance Co., a joint venture between Housing Development Finance Corp. and Standard Life Plc, is preparing an offering. The deals are slated to be the first listings from the country’s $50 billion life-insurance industry," reported Bloomberg.

ICICI Bank plans to sell part of its stake in the IPO, while Prudential Plc, which has a 26 percent holding, has not yet made a decision on the sale, according to Bloomberg's sources.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.

India
International

Related Images

Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:41 pm

Veedol signs former Indian skipper Sourav Ganguly as brand ambassador Jun 29, 2024, at 06:38 am

In Images: Glimpses from Bengali film Fatafati's premiere May 13, 2023, at 08:39 pm