New stock market listing from ICICI group

New stock market listing from ICICI group. Expert reviews are positive about the growth of ICICI Lombard listing.

ICICI Lombard makes tepid debut, lists at 1.66% discount to issue price

ICICI Lombard General Insurance Company on Wednesday made a tepid debut on BSE, as the scrip got listed at Rs 650, a 1.66 per cent discount to its issue price of Rs 661 per share

The initial public offer (IPO), the first by any general insurance company, was sold in at Rs 651-661 price band during September 15-19.

The Rs 5,700 crore issue had receive good investor response. It was subscribed 3 times.

Most analysts have a positive view on the insurer's growth prospects. But given the valuations that factor in much of the positives, only a few of them had predicted healthy listing gains.

ICICI Lombard is the largest private-sector non-life insurer in India based on gross direct premium income and company has maintained this position 2004. It is a is a joint venture between ICICI BankBSE -1.73 % and Canadian NRI Prem Watsa-promoted Fairfax Financial Holdings.

Most analysts have a positive view on the insurer's growth prospects. But given the valuations that factor in much of the positives, only a few of them had predicted healthy listing gains.

ICICI Lombard is the largest private-sector non-life insurer in India based on gross direct premium income and company has maintained this position 2004. It is a is a joint venture between ICICI BankBSE -1.73 % and Canadian NRI Prem Watsa-promoted Fairfax Financial Holdings.

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