IPO of ICICI Lombard: ICICI Bank in focus

Shares of ICICI Bank will remain in focus, as ICICI Lombard General Insurance Company public issue opens for subscription on Friday. ICICI Lombard plans to offer a portion of existing paid-up equity shares worth ₹5,700 crore in the IPO. This will provide liquidity to existing shareholders including ICICI Bank and FAL Corporation. Of the 8.6 crore shares on offer, 43.1 lakh shares are reserved for ICICI Bank shareholders. The price band of the IPO is ₹651-661.