March 26, 2026 04:04 am (IST)
Follow us:
India's largest first-time share sale in recent years likely soon
Mumbai, Jun 3 (IBNS) ICICI Prudential Life Insurance Company, India's largest private-sector life insurer, is likely to announce an initial public offering (IPO) of rupees 60 billion, reported Bloomberg on Thursday based on information from people familiar with the matter.
If the IPO happens, it will be India's largest first-time share sell in the past six years.
Bloomberg said the company has already chosen the arrangers for the IPO. Bank of America Corp. and ICICI Securities Ltd. are to lead an offering scheduled for this year, according to sources.
Bloomberg refrained from naming the sources as the information is private.
"ICICI Prudential is seeking a listing at the same time as Indian rival HDFC Standard Life Insurance Co., a joint venture between Housing Development Finance Corp. and Standard Life Plc, is preparing an offering. The deals are slated to be the first listings from the country’s $50 billion life-insurance industry," reported Bloomberg.
ICICI Bank plans to sell part of its stake in the IPO, while Prudential Plc, which has a 26 percent holding, has not yet made a decision on the sale, according to Bloomberg's sources.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Dada’s next innings for a sustainable future: Sourav Ganguly joins hands with Jakson Group
Wed, Mar 25 2026
L&T gains 3% after securing Assam water management project
Wed, Mar 25 2026
Sensex surges 1,200 pts, Nifty tops 23,300 as markets rally; experts warn of volatility
Wed, Mar 25 2026
Epic Games axes 1,000 employees — Is Fortnite losing its magic?
Wed, Mar 25 2026
What to Do When Home Loan Interest Rates Go Up
Tue, Mar 24 2026