ICICI Lombard General Insurance Company Ltd IPO Message Board (Page 28)

Bid Details at 1400 Hrs
QIBs -------------------------------- 4.00
NII ---------------------------------- 0.17
RIIs --------------------------------- 0.98
Shareholders -------------------- 0.85
TOTAL----------------------------- 1.61 times

SP tulsian says Subscribe..he s always opposite to us

LOL
Yes SP Tulsian always Opposite to us.

@RVR, at l. 45 PM 3.14 times in retail at cutoff. If u have applied at cutoff chances are there that u will get 1 lot.

Tomorrow Lombard will subscribe total 12 to 15 times. because of New highs of market and diwali season.

@tsk & jagura , Post no. 268 for over all subscription 12-15 times , not only for retail portion

Retail will only subscribe 1 to maxx 1.5 times. Total it can subscribe 12 - 15 times. Now it looks below 10 times because of TOO many SAME IPO''s.

Over all 1.78x as of 01:40pm

Below is an extract from Equitymaster view on ICICI Lombard IPO. I will just apply 1 lot only for long term holding.

The combined ratio (ratio of claim loss and management expenses to net premiums) of 104% means that the company is barely breaking even in the core insurance business. The number may certainly seem better than its public-sector peers, but the fact remains that profitability depends heavily on the investment returns.

The company delivered average shareholder''s return of 19.3% in the past three years with a solvency ratio of 210%, much ahead of the IRDA prescribed limit of 150%. In other words, being a leading player across segments and scoring well on all aspects of customer servicing, profitability and capital strength, ICICI Lombard is fundamentally adept to take advantage of the future growth potential.

Thus, while ICICI Lombard holds good potential, valuing the company is challenging as there are no listed peers for comparison. As non-life insurance has a short contract duration of one year that is renewed on a rolling basis, there is no concept of embedded value as in case of life insurance companies.

Moreover, as non-life insurance is dependent more on consumption, it is valued either at price-to-earnings (PE) for growth business or price-to-book (PB) for mature business. Based on a trailing twelve month (TTM) earnings, ICICI Lombard is valued at 41 times at the higher end of the band. This is higher than the PE of 38.5 times commanded by the NBFC sector. Even its PB value of 7.6 times is quite expensive. Moreover, the non-life insurer is yet to turnaround its underwriting business - the operating expenses still exceed the premium earnings - to justify the hefty valuations it is asking for.

The upper price band of the IPO is 48% higher than the price at which the joint venture partner, Fairfax Financial Holdings, sold its 12.2% stake in ICICI Lombard in May 2017.

Thus, while ICICI Lombard is well placed fundamentally, the expensive pricing does not provide adequate margin of safety. Therefore, we recommend subscribers to consider AVOIDING the IPO.

Before considering acting on any recommendation, we suggest that you consult with your investment advisor with regard to your individual situation.

Thanks Pavan.

Earlier Equitymaster used to say Avoid for all IPOs purely on Valuations perspective. After successful listing of RBL, DMart we gave very strong feedback to them. may be many subscribers like me have given bitter feedback. Then they started putting valuations aside and recommended Apex, Cochin etc. which gave very good returns on listing.
But they didnt recommend Capacite but i have invested in it heavily.. Fingers crossed on Capacite listing.

The IPO has many things going for it - good business, first mover advantage, almost a proxy for private insurance.

But the company marred it by pricing the issue so high. It seems that the company is shrewdly taking advantage of the current euphoria in primary market, leaving very little for investors.

Good business, highly priced - short term risky, long term bet!

On SEP 2016
ICICI Prudential Life IPO subscription || DAY 3 @ 1: 40 pm
QIB - 1.94x
HNI - 3.65x
RII - 1.02

TOTAL - 1.76

ICICI Lombard General Insurance Ltd. IPO
Subscription figures (NSE+BSE)
on day 3@1:30pm:-

QIB - 3.8X
HNI/NII - 0.15X
RII - 0.92X
Shareholders - 0.83X
Total - 1.53X
Action in next 2 hours....
I am applying.

Those who have already applied & now want to cancel their bid due to low subscription figures, have chance to Widraw their bid till issue is available for online bid.
(For ICICI 3.00pm)

GMP
ICICI 12 - 14
SBI 25 - 27
CAPACIT 163 - 165
PRATAAP 275 - 285

How to check live status of subscription?
Could anyone share the link?

I heard many retailers are not withdrawing their applications..

Bid Details for ICICIGI as on 19-Sep-2017 13:00:00 IST
QIBs 2.20 + 1.0689 = 2.5107
NII 0.08 + 0.0632 = 0.1432
RIIs 0.30 + 0.6032 = 0.9032
Shareholders 0.32 + 0.4866 = 0.8066
TOTAL =0.76 + 0.6112 = 1.3712

Every one knows Icici is a safe long term bet so retail investors already knew that no listing gains so why would they withdraw applications. A crap stock like BRNL gave 10 rs profit on listing day & imagine Icici opening on discount. No way
Apply for long term.

@ 01:00
QIB - 3.20X
HNI - 0.14X
RI - 0.89X
Emp - 0.80X

Total - 1.35X

Really Indian investors are wise. We remember the listing day experience of ICICIC PRU. That''s why see today RII portion not fully subscribed. Long live INDIANS

this is the very big ipo and there is also a big part is retail as we know, we all retailer applied for the listing gain after the listing there is seen selling pressure so if you look for the a longer term then going for the application

Atleast 1.5 times in retail application wise.

May not be.

Seems difficult because,
1. 45% is reserved for Retail which is huge number.
2. Many retail investor depends on HNI subscription figure. So far HNI subscription is as low as 14%, so it is likely that many retail investor will cancel their application (which they already did applied), which will again bring down numbers.
But I still believe it will Retail would be close to 1X to 1.2X.

Generally after 12.30 on last day of subscription all eyes are only on subscription figures of NII & QIB figures, but today looking for RII also

I m a short term investor and books profit on the day of listing. So pls suggest me shud i go for Icici lombard or not? Dont want to loss single penny.

Avoid

It will definitely crosses all the expectations.. so i suggest you to go with this ipo