ICICI Prudential Life Insurance IPO Reviews
Press Release (ePRNews.com) - INDORE, India - Sep 16, 2016 - About Us:
ICICI Prudential Life Insurance Company Limited was fused at Mumbai on July 20, 2000. ICICI Prudential Life Insurance Company Ltd. is a joint venture between biggest private bank in India, ICICI Bank and UK’s Prudential Corporation Holdings. ICICI holds 68 Percent stake while Prudential have 22 Percent stake in the organization. They offer their clients a scope of life insurance, medical/ health coverage and annuity/pension items and services.
They offer a scope of products to oblige the particular needs of clients in various life stages, empowering them to meet their long time savings and security needs. They offer their clients access to items and services through a broad multi-channel deals system crosswise over India, including through the branches of their bank partners, singular operators, corporate brokers and so on.
They evaluate that they are at the bleeding edge of leveraging technology in the Indian life insurance segment, with their spotlight on digitisation and transformation of sales, client on-boarding and interior procedures. Organization has 121,016 individual agents and their bank partners had more than 4,500 branches.
The Company likewise has an entirely claimed subsidiary, ICICI Prudential Pension Funds Management Company Limited, which is enlisted as an asset manager with the Pensions Fund Regulatory and Development Authority of India.
Among all insurance firms in India (public and private division), organization has 11.3 Percent market share on a retail weighted got premium premise. Organization has a market share of 21.9 Percent on a retail weighted got premium premise in India, among the 23 private segment life insurance organizations in India. So in basic words, they are the biggest private division insurance agency in India.
ICICI Prudential Life Review:
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ICICI Prudential Life IPO Dates & Price Band & Market Lot:
• IPO Open: Sep 19, 2016
• IPO Close: Sep 21, 2016
• IPO Size: Approx Rs.6000 Crores
• Face Value: Rs. 10 Per Equity Share
• Price Band: Rs. 300 – Rs. 334
• Listing on: BSE & NSE
ICICI Prudential Life IPO Market Lot:
• Shares: Apply for 44 Shares (Minimum Lot Size)
• Amount: Rs. 14696
ICICI Prudential Life IPO Allotment & Listing: (Approx)
• Basis of Allotment: September 26, 2016 (Approx)
• Refunds: September 27, 2016 (Approx)
• Credit to demat accounts: September 28, 2016 (Approx)
• Listing: September 29, 2016
• A portion of the subjective Factors which form the premise for figuring the Offer Price are:
• Reliable leadership crosswise over cycles;
• Capacity to convey predominant client esteem;
• Differentiated multi-channel distribution network for our items and services;
• Leveraging technology;
• Strong and feasible plan of action of our business;
• Solid and built up brand of our shareholders, “ICICI Bank” and “Prudential”; and
• Experienced senior management group.
Indian insurance private division was taking pace since 2000 with 4 organizations to 24 organizations till date. In 2016, private area achieved 51.5 % of the life insurance segment. Private division organizations have recaptured huge piece of the pie in the most recent 2 years; expanding their offer from 38 % of the general Indian life insurance division in FY14 to 52 % in FY16.
As per CRISIL’s research, the new business premium for Indian life insurance organizations is relied upon to develop at a CAGR of 11-13 % throughout the following 5 years. Enhancing monetary development, low insurance entrance, expanded fiscal savings , and a low entirety guaranteed to GDP proportion are relied upon to be the key impetuses for this development.
Indian life insurance division is 10th biggest life coverage market on the global and the 5th biggest in Asia. The entire premium in the Indian life insurance division has developed at a CAGR of 17% more than 2001-2016. India is unpenetrated market for protection segment with a life coverage infiltration of 2.7 % in 2015, leaving huge possibility for insurance agencies.
Youthful Indian populace (90 % of populace would be under 60 years by 2020), quick urbanization and improving fiscal reserve savings (monetary saving has 19 % stock of life insurance) are relied upon to push the development in Indian life insurance division.
ICICI Prudential Life Insurance would turn into India’s 1th insurance firm to strike capital markets. It is the greatest IPO since Coal India in 2010 as far as Rupees. It is the biggest life insurance organization in India by fund under management and entire premium in FY16. The organization offers extensive variety of life insurance, health coverage and annuity/pension products. Organization has 121016 protection operators and has more than 4500 branches with Bank Partners. Rs 1.04 trillion assets under management make it one of the biggest asset managers in India.
The organization appreciates solid parentage from ICICI Bank giving it most secure pad of the brand. The organization has been the capacity to make high income of more than 90 % in most recent three years due to a strong and supportable plan of action and multi-channel distribution network. In any case, fluctuating capital markets, performance of bancassurance partners, changes in market interest costs and false exposure could influence the matter of the organization. The organization appreciates 21.9 % market share in India among all another 23 private players.
PAT of the organization has developed at CAGR of 5% over FY12-16. In FY16, the organization noted income of Rs 1812 crore, which increments by 8% on a YoY premise. The organization has sound net revenues of above 90 % since FY14. Premium income of the organization has up by 25.3 % to Rs 18998.7 crore in FY16 on a YoY premise.
Peer Comparison and Valuation
The organization doesn’t have any recorded peers starting now. The organization with EPS of 11.54 with higher band P/E of 28.94x faces appealing. The organization has dissolvability and persistency proportion of 320% and 82% separately in FY16. The organization keeps up RoNW above 31% since FY14. Considering great fiscal numbers, we suggest to subscribe for this IPO
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