ICICI
LOMABRAD GENERAL INSURANCE – IPO PROCESS INITIATED
ICICI
LOMABRD GENERAL INSURANCE COMPANY LIMITED, incorporated in Year 2000, is a Joint Venture between ICICI Bank Limited
and Fairfax Financial Holdings Limited, a Canada based diversified financial
services company. ICICI Lombard provides all
types of insurance services to customers across the country and beyond with its
257 no. of branches as on March
2016.
Recently, Fairfax
Owned by Prem Watsan sold 12.18% stake in ICICI Lombard General Insurance
Company. Fairfax sold stake to three parties’ i.e Red Bloom Investment Ltd – 9%,
Tamarind Capital Pte. Ltd – 1.59% and IIFL Special Opportunity Fund – 1.59%.
The Stake sale is subject to government and regulatory approval. Valuation
of the company has almost increased by 20% since 2016 when Fairfax had bought
9% stake from ICICI Bank on FDI approval at valuation of 17000+ crs and today
Fairfax is selling 12.18% stake valuing the company at 20,300 crs.
ICICI Lombard General
Insurance has appointed Bank of America
Merill Lynch (BofA) and group company ICICI Securities (I-Sec) as advisors for
its initial public offering (i.e IPO). ICICI Lombard General Insurance IPO will be a pure stake sale and no fresh
issue of equity. The exact quantum of disinvestment by Promoters shall be
decided in due course.
The
Two key reason for Listing of ICICI Lombard General Insurance:
- Bull strike in Stock Market which shall fetch the company good valuation
- Fairfax is keen to promote its new general insurance company, and as per the rule a foreign entity cannot hold more than 10% in two general insurance companies at the same time.
RESULT HIGHLIGHTS FOR YEAR ENDED MARCH 2017
PARTICULAR
|
MARCH 2017
|
MARCH 2016
|
NET PREMIUM
|
6163.61
|
4821.62
|
TOTAL INCOME
|
1018.49
|
722.09
|
PAT
|
701.88
|
507
|
EPS
|
15.66
|
11.35
|
RESERVES
|
3271.14
|
2728.11
|
INVESTMENT
|
15078
|
11562
|
RONW (%)
|
19%
|
16%
|
NET EARNING (%)
|
11%
|
11%
|
SOLVENCY RATIO
|
2.10X
|
1.82X
|
For
buying and selling any unquoted / unlisted / delisted or suspended shares in
physical or demat you can reach us at Contact No.91+ 09215709100 or Email us on
mittalmanish2003@gmail.com
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