ICICI Prudential Life completes IPO

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ICICI Prudential Life Insurance Company – a joint venture between ICICI Bank and Prudential Corporation Holdings – has raised ₹60.57 billion (US$908 million) through its initial public offering and listing on the Bombay Stock Exchange and National Stock Exchange of India.

icici-prudential-life-completes-ipoThe IPO consisted of a secondary offering of 181.3 million shares by ICICI Bank, including a reservation of 18.1 million shares for certain ICICI Bank shareholders. The shares were sold inside India in a public offering registered with the Securities and Exchange Board of India and outside the country in a private placement to a limited number of institutional and other investors under offering exemptions in other jurisdictions, including the United States.

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