ICICI Lombard General Insurance Company Limited is the largest private‐sector non‐life insurer in India based on gross direct premium income in fiscal 2017, a position maintained since fiscal 2004 after being one of the first few private‐sector companies to commence operations in the sector in fiscal 2001. It offers customers a comprehensive and well‐diversified range of products, including motor, health, crop/weather, fire, personal accidents, marine, engineering and liability insurance, through multiple distribution channels.

Issue Details

Issuer : ICICI Lombard General Insurance Company Limited
Issue Start Date : Friday, 15 September 2017
Issue End Date : Tuesday, 19 September 2017
Issue Size : Rs5614.69 to Rs5700.94 Cr
Lot Size : 22 Equity shares and in multiples thereafter
Price Band : Rs651 to Rs661
Issue Allocation : QIB – 50% NIB – 15% Retail – 35%
Mode of Payment : ASBA Mandatory (No cheques will be accepted)
Listing : Proposed to be listed on BSE and NSE
GCBRLM : ICICI Securities Limited, DSP Merrill Lynch Limited and IIFL Holdings Limited
BRLMs : CLSA India Private Limited, Edelweiss Financial Services Limited and JM Financial Institutional Securities Limited
Registrar : Karvy Computershare Private Ltd.
Note: Please note that as per the new SEBI regulation all public offerings (IPOs) after January 1, 2016 need to be fulfilled through the ASBA (application supported block amount) route only. These changes have altered the existing seamless online bidding process. We are striving to make this process completely online for you again. We seek your kind support in the interim.


About Company

ICICI Lombard General Insurance Company Limited is the largest private‐sector non‐life insurer in India based on gross direct premium income in fiscal 2017, a position maintained since fiscal 2004 after being one of the first few private‐sector companies to commence operations in the sector in fiscal 2001. It offers customers a comprehensive and well‐diversified range of products, including motor, health, crop/weather, fire, personal accidents, marine, engineering and liability insurance, through multiple distribution channels.
The company was founded as a joint venture between ICICI Bank Limited, India’s largest private‐sector bank in terms of their consolidated total assets, with an asset base of Rs.9.9 trillion as of March 31, 2017, and Fairfax Financial Holdings Limited, a Canadian based holding company, which through its subsidiaries, is engaged in property, casualty insurance, reinsurance and investment management with total assets worth US$43.38 billion as of December 31, 2016.


Company’s Competitive Strengths

Objects of the Issue

FAQs


An initial public offering (IPO)/public issue is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves the way for listing and trading of the issuer’s securities.

The shares are initially issued in the primary market at an offering price determined by the lead manager(s)/the merchant banker(s) to the IPO.

The primary market consists of a syndicate of investment banks and broker dealers that the lead managers assemble and that allocate shares to institutional, high net worth individuals (HNI) and individual/retail investors.

As far as IPOs are concerned, a price band is a value-setting method whereby a seller indicates an upper and lower cost range, between which the buyers/investors are able to place their bids. The price band's floor and cap provide guidance to the buyers.

It is up to the company to decide on the IPO price or the price band, in consultation with the lead managers.

The basis of IPO price is disclosed in the offer document. The issuer is required to disclose in detail about the qualitative and quantitative factors justifying the IPO price.

The IPO price is normally based on such factors as the company’s financials, products and services, income stream as well as the demand for the shares and current market conditions.

The lead managers must determine a fair offering price, which takes into consideration the need for the company to raise capital while offering the new issue at a price which represents a fair value of the shares.

A Red Herring Prospectus (RHP) is a document submitted by a company (issuer) as part of a public offering or an IPO of securities (either stocks or bonds).

A retail individual investor means an investor who applies or bids for securities of or for a value of not more than Rs 2,00,000.

Yes. He can bid in a book-built IPO for a value not more than Rs 2,00,000. Any bid made in excess of this will be considered in the HNI category.

Yes. Investors can change or revise the quantity or price in the bid using the form for changing/revising the bid that is available along with the application form. However, the entire process of changing or revising the bids shall be completed before the IPO closes.

In case of fixed price issues, investors are intimated about the CAN/Refund order within 10 days of the closure of the IPO.

In case of book built IPOs, the basis of allotment is finalised by the book-running lead managers within two weeks from the closure of the issue. The registrar then ensures that the demat credit or refund as applicable is completed within 6 working days of the closure of the issue.

In the case of book-built issues, the exchanges (Bombay Stock Exchange/National Stock Exchange) display the data regarding the bids obtained (on a consolidated basis between both these exchanges).

The data regarding the bids is also available category-wise.

Investors are entitled to receive a Confirmatory Allotment Note (CAN) in case they have been allotted shares within 6 working days from the closure of a book Built issue. The registrar has to ensure that the demat credit or refund as applicable is completed within 6 working days of the closure of the book-built issue.

The lead managers also publish an advertisement at least in an English national daily with wide circulation, one Hindi national paper and a regional language daily circulated at the place where registered office of the issuer company is situated.

The listing on the stock exchanges is done within seven days from the finalisation of the issue.

Ideally, it would be around three weeks after the closure of the book-built issue.

In case of fixed price issue, it would be around 10 days after closure of the issue.

 
QUESTIONS?
Disclaimers:

- Client should read the Risk Disclosure Document issued by SEBI & relevant exchanges, the Do’s & Don’ts and the T & C on www.sharekhan.com before investing. Investments in equity is subject to market risks. You are advised to carefully read the red herring prospectus of the company and go through all the Risk Factors mentioned in the offer document issued by the company before investing. The investment as mentioned in the document may not be suitable for all investors. Investors may take their own decisions based on their specific investment objectives and financial position and using such independent advisors, as they believe necessary. Either SHAREKHAN or its affiliates or its directors or employees / representatives / clients or their relatives may have position(s), make market, act as principal or engage in transactions of purchase or sell of securities, from time to time or may be materially interested in any of the securities or related securities referred to in this report and they may have used the information set forth herein before publication.

- This mailer is the purpose of information only. Invest only only after referring to the Red Herring Prospectus dated 6th September 2017.

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