ICICI Lombard IPO Opens on Sept 15th

[Chittorgarh]

ICICI Lombard General Insurance Company Ltd is entering in the capital market with an IPO of 86,247,187 Equity Shares of Rs 10 each. The price band for the issue has been fixed at Rs 651 at lower level and Rs 661 at upper level.

ICICI Lombard General Insurance Company Ltd founded as a joint venture with ICICI Bank Limited, is engaged in providing various general insurance products and services in India. They mainly offers fire, engineering, hull, aviation, motor, casualty, health, travel, energy, personal accident, marine, liability, home, rural, and credit insurance products and services.

ICICI Lombard holds 8% of the non-life insurance market. Public sector firms own more than half of the non-life insurance market in India.

The issue opens on Sep 15, 2017 and closes for subscription on Sep 19, 2017. The equity shares of the issue are proposed to be list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

 

[mastermind007]

There is an extremely interesting speech on Insurance industry by Rajiv Dixit. This was around the time when foreign Insurance companies first opened shops in India. Those who have not heard his name are requested to google it up.

Those who have heard Dixit will find that his talks always have a bias in favour of Indian culture and distrust/disgust in western culture.

Discounting his bias, most important query raised in his talks centres on whether or not profits earned in India by a foreign firm will be invested in India or will it be repatriated?

I did a rapid read through of prospectus of ICICI IPO but this issue is not being addressed at all.