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).
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.
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.
In an interview to CNBC-TV18, Santosh Singh, Head of Research-India at Haitong Securities spoke at length about SBI Life's IPO. He also shared his views on Bharat Financial Inclusion and IndusInd Bank deal.
This would be the second listing of a life insurer after ICICI Prudential Life Insurance, which went public last year.
Company's consolidated revenue from operations increased sharply from Rs 214.26 crore in FY14 to Rs 1,157 crore in FY17.
ICICI Lombard General Insurance is all set for its Dalal Street debut this week. CNBC-TV18's Ritu Singh caught up with ICICI Lombard’s chairperson Chanda Kochhar.
The initial public offer (IPO) of Matrimony.com, which runs online match-making portals, will be open from September 11-13.
The public issue comprised of fresh issue up to Rs 130 crore and an offer for sale of up to 37,67,254 equity shares.
Little over 22.93 lakh shares would be allotted to 10 anchor investors, including Goldman Sachs, Small Cap World Funds, HDFC Trustee Company and Baring Private Equity India AIF.
ICICI Lombard will become the first general insurer to go public
In an interview with Moneycontrol's M Saraswathy, Bhargav Dasgupta, MD & CEO, ICICI Lombard General Insurance talks about the listing and strategies going forward.
The initial public offering (IPO) rush continues on Dalal Street. Matrimony.com's IPO opens on September 11th and the company plans to raise Rs 500 crore via the IPO. In an interview to CNBC-TV18, Murugavel Janakiraman, Founder and MD of the company spoke at length about their IPO.
Watch accompanying video of Chanda Kochhar, CEO of ICICI Bank speaking at ICICI Lombard's initial public offering (IPO) press conference.
The IPO will involve 120 million secondary shares, or 12 percent of the insurer's equity capital.
ICICI Lombard General Insurance Company will launch its initial public offer of up to 8,62,47,187 equity shares on September 15.
The company expects to raise Rs 60 crore from the primary round of equity sale and Rs 540 crore from offer for sale.
Madhya Pradesh Today Media intends to raise Rs 14.16 crore through public issue of 21,46,500 equity shares at a price of Rs 66 per share.
Listing of Reliance General Insurance is expected to be completed in FY18, the company said.
Brokerages largely remain positive on the issue and recommend subscribing to it from a long term perspective. Moneycontrol takes a look at what brokerages are saying.
Bharat Road Network aims to garner around Rs 600 crore through the issue that will close on September 8.
Indore-based snacks maker Prataap Snacks expects to launch its Rs 250-crore initial public offer (IPO) in the next couple of months.
The public issue comprises of fresh issue up to Rs 130 crore and an offer for sale of up to 37,67,254 equity shares by promoter and promoter group.