The allotment status for IPO of ICICI Lombard General Insurance Company is declared and can be checked from link given below:
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Showing posts with label ICICI Lombard IPO. Show all posts
Showing posts with label ICICI Lombard IPO. Show all posts
Saturday, September 23, 2017
Tuesday, September 19, 2017
ICICI Lombard IPO Final Subscription status
IndianIPOBlog
September 19, 2017
0
QIB: 8.17 times
HNI: 0.82 times
Retail: 1.18 times
Shareholders: 0.98 times
Overall: 2.95 times
ICICI Lombard IPO Subscription status as on Day 3 - 3.10 pm
IndianIPOBlog
September 19, 2017
0
QIB: 7.35 times
HNI: 0.59 times
Retail: 1.08 times
Shareholders: 0.93 times
Overall: 2.64 times
Monday, September 18, 2017
ICICI Lombard IPO - Subscription status on Day 2
IndianIPOBlog
September 18, 2017
0
QIB: 2.37 times
HNI: 0.10 times
Retail: 0.62 times
Others: 0.58 times
Overall: 0.98 times
HNI: 0.10 times
Retail: 0.62 times
Others: 0.58 times
Overall: 0.98 times
Friday, September 15, 2017
ICICI Lombard IPO - Subscription status on Day 1
IndianIPOBlog
September 15, 2017
0
QIB: 0.62x
HNI: 0.04x
Retail: 0.18x
Shareholders: 0.22x
Overall: 0.27 times
ICICI Lombard IPO Review
IndianIPOBlog
September 15, 2017
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Brief company profile
ICICI Lombard General Insurance Company Limited is one of the leading private sector general insurance companies in India. It is engaged in general insurance, reinsurance, insurance claims management and investment management. ICICI bank had 64% stake in the venture while Fairfax had 35% in the joint venture. ICICI Lombard General Insurance is the largest private sector general insurance company in India.
The company markets assurance products including Car Insurance, Health Insurance, International Travel Insurance, Overseas Student Travel Insurance, Two Wheeler Insurance, Home Insurance and Weather insurance. ICICI Lombard has 249 branches spread across the nation
Company and Industry propsects
India's non-life insurance sector grew at an annualised rate of 14.5% between FY11 and FY16, the second fastest among Asian countries. Despite this, the market penetration was poor with policy premium was 0.8% of GDP in 2016.
The company being the market leader in the industry, has huge potential in terms of growth in long run if efficiently expanded.
The company has delivered a strong growth in GDPI and has been successfully maintaining its leadership position amongst the private sector non-life insurers through various cycles of industry evolution
Financials and Valuation
The company's Gross Written Premium (GWP) was Rs.109.60 billion in fiscal 2017. The company maintained its market leadership in the private sector with an overall market share of 8.4%. It witnessed an increase in policy volumes by 12.21% from 15.80 million in fiscal 2016 to 17.73 million in fiscal 2017.
ICICI General’s profit before tax increased from Rs 7.08 billion in fiscal 2016 to Rs 9.10 billion in fiscal 2017. ICICI General’s profit after tax increased from Rs.5.07 billion in fiscal 2016 to Rs.7.02 billion in fiscal 2017
The company has impressive track with ROE with the same being in excess of 17 percent
While the figures are impressive in terms of performance, yet it would be worthwhile to check what kind of pricing is the company demanding. At the upper end of price band, the company is demanding a price of 46.5 times the earnings per share as on Mar 2017. There is no listed comparable peer for the company
It is also pertinent to note that Fairfax Financial Holdings sold 12.2 per cent of its stake in the company to certain private equity firms in the month of May 2017 for Rs 2,470 crore, thereby valuing the firm to around Rs. 20,000 crore. At a higher price band of Rs.661, the IPO is demanding a market cap of Rs 30,000 crore which again implies steep valuations
Synopsis
While the company prospects appear promising considering the penetration and industry potential, the price at which the company is offering shares is clearly steep. The company is demanding a PE of 46.5 times.
With no comparable listed peer, price benchmarking becomes highly blurred. The only far-away comparable turns out to be its own group company (ICICI Prudential Life) which is trading at around 36 times its EPS.
Taking into view the market leading position of the company, the immense potential of the sector and strong trend of elevated ROE, the IPO may turn out to be a good long term bet. And while considering the high liquidity environment prevalent currently, decent listing gain also appears comfortably plausible. However, investors may need to be ready with necessary patience levels and loyalty towards the stock in case things turn turbulent in the short run
Listing Dates of IPOs in Sep 2017
IndianIPOBlog
September 15, 2017
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Listing Dates (Tentative)
IPOs in September 2017
👉Dixon Technologies IPO - 18/9/17
👉Bharat Road Networks IPO - 18/9/17
👉Matrimony IPO - 21/9/17
👉Capacite Infraprojects IPO - 25/9/17
👉ICICI Lombard IPO - 27/9/17
👉SBI Life IPO - 3/10/17
Wednesday, September 13, 2017
ICICI Lombard IPO - Download Red Herring Prospectus (RHP)
IndianIPOBlog
September 13, 2017
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Click here to download ICICI Lombard IPO - Download Red Herring Prospectus (RHP)
ICICI Lombard IPO - Objects to the Issue
IndianIPOBlog
September 13, 2017
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The objects of the offer are:
1. To achieve the benefits of listing the Equity Shares of the Company on the Stock Exchanges;
2. To carry out the sale of up to 86,247,187 Equity Shares by the Selling Shareholders; and
3. Enhance the “ICICI Lombard” brand name and provide liquidity to the existing shareholders
1. To achieve the benefits of listing the Equity Shares of the Company on the Stock Exchanges;
2. To carry out the sale of up to 86,247,187 Equity Shares by the Selling Shareholders; and
3. Enhance the “ICICI Lombard” brand name and provide liquidity to the existing shareholders
Thursday, September 7, 2017
ICICI Lombard IPO opens from Sep 15
IndianIPOBlog
September 07, 2017
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ICICI Lombard is coming up with an IPO of equity shares which would open for subscription from September 15, 2017. The IPO would remain for open till September 19, 2017
The price band for the IPO is fixed at Rs.651 to Rs.661 per equity share
Stay tuned to Indian IPO Blog for more on ICICI Lombard General Insurance Company IPO!