Five prerequisites prior to subscribing for ICICI Prudential Life's IPO

ICICI Prudential is all gearing to get listed on the bourses. The first of its kind IPO will open for subscription on Monday i.e. September 19. Here are five things to remember before subscribing.

1. It is India’s biggest ever Insurance IPO, which will hit the primary market on September 19 and will close on September 21. Price band of the proposed IPO has been fixed between Rs 300 to Rs 334 per equity share to raise upto Rs 6057 crore.

2. ICICI Prudential Life is a Joint Venture between private sector banking leader ICICI Bank and UK based Prudential Corporation Holdings. ICICI Bank holds around 68 per cent stake in the insurance JV, while Prudential holds around 26 per cent.

3. ICICI Prudential Life Insurance will become India’s first insurance company to hit capital markets. It is the biggest IPO since Coal India in 2010 in terms of rupees. It is the largest life insurance company in India by asset under management and total premium in FY16.

4. PAT of the company has grown at CAGR of 5 per cent over FY12-16. In FY16, the company has reported revenue of Rs 1812 crore, which has increased by 8 per cent on a YoY basis.

5.The company does not have any listed peers as of now, Bank of America, Merrill Lynch and ICICI Securities being the global co-ordinators and book-running lead managers, with the likes of Citi, CLSA, DB, HSBC, SBI Caps, etc., being other lead managers.