IFLR1000

ICICI Prudential Life Insurance Re60 billion BSE/NSE IPO

21/9/2016
IPO
Select tab

Re 60.568 billion

$ 909 million

Completed

21/9/2016

Overview:

  • ICICI Prudential Life Insurance (ICICI Prudential) has undertaken a Re60 billion IPO and is now the first listed insurance company in India.
  • The shares were listed on the Bombay Stock Exchange and the National Stock Exchange of India.
  • ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation and is incorporated in Mumbai. 
  • The deal is the largest IPO in India since that of Coal India in 2010. It is also the largest life insurance IPO in Asia (exclude Japan) since 2012. 
  • Cyril Amarchand Mangaldas (Shashikant Bhojani, Gaurav Gupte) acted for ICICI.
  • S&R Associates (Sandip Bhagat, Jabarati Chandra) and Davis Polk & Wardwell (Gerhard Radtke, Faisal Baloch) acted for the lead managers.

Wai Yee Tsang - Journalist - Asia-Pacific

Jurisdiction:

India

Deal type:

IPO

Practice area:

Capital markets : Equity

Industry sector:

Insurance

Firms:
Cyril Amarchand Mangaldas

Party: ICICI Bank (Issuer)

Party: ICICI Prudential Life Insurance (Issuer)

Davis Polk & Wardwell

Party: Deutsche Equities India (Lead manager)

Party: Edelweiss Financial Services (Lead manager)

Party: HSBC Securities and Capital Markets (Lead manager)

Party: JM Financial (Lead manager)

Party: SBI Capital Markets (Lead manager)

Party: ICICI Securities (Lead manager)

Party: DSP Merrill Lynch (Lead manager)

Party: CLSA India (Lead manager)

Party: IIFL (Lead manager)

Party: UBS Securities India (Lead manager)

Lawyers: Faisal Baloch, Gerhard Radtke

S&R Associates

Party: ICICI Securities (Lead manager)

Party: DSP Merrill Lynch (Lead manager)

Party: CLSA India (Lead manager)

Party: Edelweiss Financial Services (Lead manager)

Party: Deutsche Equities India (Lead manager)

Party: HSBC Securities and Capital Markets (Lead manager)

Party: IIFL (Lead manager)

Party: JM Financial (Lead manager)

Party: SBI Capital Markets (Lead manager)

Party: UBS (Lead manager)

Lawyers: Jabarati Chandra, Sandip Bhagat

Related deals