ICICI Lombard wraps up $886m IPO oversubscribed

ICICI Lombard General Insurance Co closed books for its IPO on Tuesday, with the Rp57bn ($886.4m) trade more than 250% subscribed.

  • By Jonathan Breen
  • 19 Sep 2017

The deal comprises 86.2m secondary shares, including a 24.6m anchor portion, sold through an offer-for-sale auction process. The stock, equal to 19% of ICICI Lombard’s equity capital, was on offer at Rp651-Rp661 apiece.

As of 3.15pm Tuesday afternoon in India, investors had placed orders totaling 151.9m shares ...

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