Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessIPOICICI Prudential Life to file DRHP by noon on Friday: Sources

    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

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347
    CloseGen AI Masterclass