Promoters including Sequoia Capital GFIV Mauritius Investment (SCG), Sequoia Capital India Growth Investment Holdings I and SCI Growth Investments II hold 92.67 percent stake in the company and the rest is held by public.
Multiple brokerages recommend subscribing to the issue with a long term perspective as valuations could be higher from some perspective. But the business has a strong potential to grow ahead, they said.
Among all insurance initial public offerings (IPOs), State Bank of India's SBI Life commanding a valuation of Rs 70,000 crores is fully subscribed. In an interview to CNBC-TV18, SBI Life's MD & CEO Arijit Basu spoke about the response the IPO has garnered.
The Prataap Snacks initial public offering (IPO) opens for subscription today. In an interview to CNBC-TV18, Amit Kumat, MD & CEO of Prataap Snacks spoke about the latest happenings in his company and sector.
SBI Life Insurance Company's initial share sale offer has received good response from qualified institutional investors on the last day.
The shares would be alloted to 15 anchor investors at Rs 938, which is the upper end of the price band, the company informed to the stock exchanges.
The Reserve Bank of India's guidelines mandated the bank to get itself listed within three years from the commencement of banking operations. The bank started its operation in August 2015.
The public offer comprises sale of up to 195,797,000 equity shares by the existing shareholders, including Maplewood, Whispering Resorts, Palms International and RJ Corp, according to the draft red herring prospetus (DRHP).
While every good thing comes at a price, so is the IPO (initial public offer) of SBI Life. Long term investors should lock in to this offer for a safe journey.
The company through its merchant bankers informed exchanges that under anchor investors portion in the public issue of SBI Life Insurance Company, 3.18 crore equity shares have been subscribed on Tuesday by 69 anchor investors.
Brokerage houses largely recommend subscribing to the issue, citing healthy valuations and better business prospects.
The IPO by size is expected to be the largest in life insurance space in India and it would be the second life insurance company to list on bourses.
Post-issue, the shareholding of Fairfax will reduce to 9.91 percent from 21.91 percent and ICICI Bank's stake will come down to 55.92 percent, from 62.92 percent.
There were some swings seen in the stock during the morning session, as it fell over a percent in the first few minutes, but has now gained around 4 percent later.
NIC has also submitted a roadmap to the government and the regulator
The qualified institutional buyer (QIB) category was subscribed 62 per cent, non-institutional investors 4 per cent and retail individual investors 18 per cent.
The initial public offering of construction firm Capacit'e Infraprojects has seen very strong response from investors on final day.
ICICI Lombard General Insurance Company will become India's first general insurer to sell shares in an initial public offering that opens today. CNBC-TV18's Yash Jain caught up with Bhargav Dasgupta, MD & CEO and asked him about the IPO and individual stake dilution by the two partners -- ICICI Bank and Fairfax.
The house is upbeat on ICICI Lombard because the non-life insurance is still in its nascent stage in India but is growing at a high rate, says Siddharth Purohit, Senior Research Analyst, Angel Broking.
ICICI Bank and FAL proposed to sell 7 percent and 12 percent stake in the company through an offer.
Leading brokerage houses highlight the expensive valuations of the issue, but believe that under-penetration of insurance, focus on profitability, along with growth potential of the sector make it a long term investment option.
The price band will be Rs 685-700 per equity share with a discount to eligible employees of Rs 68 per share on the offer price.
The initial share sale offering of construction firm Capacit'e Infraprojects was oversubscribed 4.62 times on the second day of bidding on Thursday.
SBI Life Insurance is all set to launch its initial public offering (IPO) next week on the 20th of September. The life insurance firm plans to raise Rs 8,400 crore and has fixed the price band for the issue at Rs 685 to Rs 700 a share. CNBc-TV18’s Yash Jain caught up with Arijit Basu, MD & CEO of SBI Life and asked him about the details of the IPO.
Beside an assessment of overall business prospects, we carried out three important tests to assess the quality of Capacit’e Infraprojects’ IPO.