ICICI Pru Life IPO to keep ICICI Bank in focus

ICICI Bank, which owns 68 per cent in ICICI Prudential Life Insurance Company, will attract market attention on account of the latter’s IPO. The bank is selling 12.65 per cent stake though the IPO, which opens for subscription between September 19 and 21. ICICI Prudential Life Insurance, the first insurer to hit the capital markets in India, will raise about ₹6,000 crore through the issue. The price band of the issue has been fixed at ₹300-334 a share.