Investors make beeline for ICICI Pru Life IPO

By John Loh
22 Sep 2016

India’s debut IPO from the insurance sector has priced at the top of its range, with ICICI Prudential Life Insurance Co raising Rp60.6bn ($904.8m) as demand exceeded supply by almost 11x.

Investors put in orders for 1.39bn shares versus the 132.4m shares that were on offer in the public bookbuild after bidding closed on Wednesday. That allowed the country’s first private sector insurer to list, and the most anticipated float of the year, to price its shares at ...

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