ICICI Prudential Life to file DRHP by noon on Friday: Sources

The IPO will be managed by BofA-ML and ICICI securities. Other bankers for the IPO include Deutsche Bank, UBS and CLSA.

July 15, 2016 / 17:13 IST

ICICI Prudential Life Insurance is likely to file its Draft Red Herring Prospectus (DRHP) by noon today, sources say. The company plans to raise Rs 5,000 crore via Initial Public Offering (IPO), a first by any insurance company in the country. The IPO will be managed by BofA-ML and ICICI securities. Other bankers for the IPO include Deutsche Bank, UBS and CLSA. ICIC Bank Managing Director and Chief Executive Chanda Kocchar had told CNBC-TV18 that the ICICI Prudential Life will hit capital markets in the current fiscal itself.ICIC Prudential Life is a joint venture between ICIC Bank and Prudential Corporation Holdings and had started operations in 2000.

first published: Jul 15, 2016 10:21 am

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