ICICI Prudential Life Insurance Company Ltd IPO Message Board (Page 70)

Buyer for application icicibank in rajkot.

Icici me jetna mangoge utna milega. bat lalach me mat Ana friends..

Nasdaq future down 150 means huge falllllllllllllll.... Be careful for Lt. Icici also looking highly valued. Markers definitely 8400

It has came back from lower levels. By Wednesday mostly things will be back in place.

I talked to Sanker SGM from ICICI who has sent email on rights issue. I am being informed that Forms(pink form for resident individuals for rights) under transit, It will be sent to eod tomorrow or any other alternate website which he will send email. I wasted nearly one hour for this purpose and finally could talk to company secretary in icici. Regards......Narasimhan.

I am a shareholder in ICICI Bank in demat form and understand that I am entitled for preferential allotment of shares in the IPO of ICICI Prudential Life Insurance IPO. I want to know the procedure. Whether, the company or the bank will be sending me any forms in this connection and how to go about this? Please clarify.

The choice will be available while applying online or through physical application. You have to tick that in the application.

•      This is the first IPO by an Indian life insurer. There are no listed peers. Hence valuing it against listed peers is not possible. An Indian insurer cannot be compared with an insurer of a developed country because life expectancy in India is much different from a developed country. The valuation of a life insurance company is quite different from other sectors. Just for the record I would like to mention that prudential insurance is valued at 8.14 P/E in NASDAQ. That is for the life and general insurance combined business. As per RHP following key data is available. Book value per share on a consolidated diluted basis is 37.17 and weighted average consolidated RONW is 33.20%. Weighted average diluted EPS is 11.40. This issue being an offer for sale there is no further dilution. The offer price at upper band is Rs.334 per share. That is 29.29 times its future earnings per share. The asking price is nearly 9 times its book value per share. Even though the pricing appears to be stiff, following factors need to be looked in to. Compared to its peer’s new business premium is the highest at 4763 crores. Market share is highest at 18%.Its expenses ratio is lowest at 14% and commission payout ratio is lowest at 3%. Since its parent is ICICI Bank, it is able to get consistent business at lower costs. This will continue and future and forward P/E will be much higher than its peers as and when they get listed. The stiffer pricing is taking in to account the superior performance of IPL. Investors are asked to pay the embedded value which is reckoned at future earnings of 29.9. Whether the successful applicants will be able to have a large listing gain? May be or maybe not. This especially so in view of current market uncertainty. But I am quite bullish on mutual funds and institutional investors scrambling for buying these shares on listing. But long term investors will be able to gain. While many, including shareholders of parent are skeptical about the issue, still surprisingly they want to apply for the rights shares available to them! Obviously they see some value at asking price!

great analysis

My original post on this was quite long and therefore I have not spelt out some of the comments in detail. To make a long story short they are as follows.
1. IPL balance sheet is in INR whereas prudential balance sheet is in US$. Hence absolute numbers are not comparable and accounting standards are also different.
2. Currently no institutional investor or mutual fund has exposure to Insurance sector. Hence there is bound to be an untapped sectoral exposure limit creating a demand for this virgin sector. This way there is an untapped demand which can currently be met only by IPL on listing.
3 .ICICI Bank cross sells IPL products through its relationship managers as risk tools or pure investment vehicle. Some products are linked to loan products. For example a home loan customer is also sold a life insurance policy with a lump sum premium which is paid along with HL EMI without additional financial strain on borrower. Selling point is convincing, as in the case of death of borrower the loan gets automatically paid by insurer and creates no loan burden for survivors and property becomes theirs. There are many other loan products where insurance is also sold. Advantage of reduced selling expenses and growing premium income will accrue to IPL.
4. New IPL shareholders will get preference in future dilutions envisaged by parent.
5,. Please also read the link. https://www.iciciprulife.com/content/dam/icicipru/about-us/BusinessPresentations/FY2015/Business%20presentation%20for%20FY2015.pdf

Ye IPO kaisa hai

can we apply in 300 price band?

Yes you can apply at 300 but if bids come at 334 and issue is fully subscribed then you''ll not get allotment at 300

Yes you can

Customers who hold ICICI Bank shares as on September 07, 2016 can apply in shareholder category. Customers who apply in shareholder category* upto 2 lac can also apply in Retail or HNI category in the normal quota whereas customers who apply for more than 2 lac under shareholder category cannot apply in Retail or HNI category in the normal quota.

Are u gone made all ??
Ur icici share have nothing to do with IPL...abe yaar 1x hi nhi hoga retail me..full allotment chahe icici ho ya na...

But make sure icici bank need atleast 7-11% correction in coming days...

Apply apply apply

I am going to apply with 300 price band, because 334 will be discount definitely

it can possible?

Hello! !!!!

I am account holder for the ICICI Bank and also having Policy for ICICI Prudential. Will I get my advantage in allotment ? Should I apply in Quota (if it is available )
Pl guide...

Only icici bank shareholders will get preferential allotment.. No disccount.
ICICI Pru policy holders will get nothing.

Hello !!!!

Yes. I have the ICICI BANK Shares (in lost ☺). How to get the benefits? Will my security manager knowing this process ? (Wild guess)

Not able to find the physical application in Chennai.

Can anyone help in getting / sourcing a ICICI Pru IPO Application in Chennai?

You can download from NSE and BSE website and also from all lead manager website. However the websites have not yet upload the form it will uploaded when the IPO is official launched.

No chance..of price band goes down.all paid expert will suggest u to apply by next week.
Better to sell in kostak (i already @900)and book 6% profit without taking any tension.


And will never buy above 300.

How does one sell in Kostak ? If I don''t get allotment, even then I am paid or what ?

@Smashing.. msg no 89. You seem to have a very reliable sources, your prediction of price band was on target.. now what your sources are telling, what will be the approximate listng price, is there any chance of issue price fixed lower than 334? Awaiting your reply.

Thanks IPO Tracker...

I don’t buy stocks with a target price in mind…I buy the ones which have potential to multiply in next few years….Consider the following facts and decide urself about allotment price, listing gain and future potential
1)      Insurance industry is on the verge of take off in India….With low penetration of insurance and legacy of misselling already over, growth rate will be attractive for next many years
2)      Since Insurance companies generate high free cash flows, dividend payout and yield will be good
3)      40% valuation discount between I-Pru and HDFC+Max cannot last for forever
4)      Valuations may change overnight or over the years…While ppl are looking at lower price for Premji invest, do look at ESOPS given to employees at Rs.400/share few year ago…

ICICI Pru valuation- it depends what way we chose to look at it.
Is there a steep increase in valuation - yes there is of you look at earlier transactions.
Could there be a offer Lower than this band of 300-334; yes certainly .. and that would have left more on the table for a retail investor.
But same time, looking at the way other insurers are getting valued / the overall expected response from institutional investors - to my view, there is a very fair chance still to see a significant upside on listing of this stock.
It''s more a question of what expectation you set and if you do not take part here, are you better off in cash or invested elsewhere

One more thing -At least they must put some discount for retail investors but nothing good.

best possibility is to apply for a lot each in shareholder and normal retail category..

In this IPO all are discussing about how to apply in share holder category but more important is valuations.

In November 2015 ICICI Prudential sold 6% stake to Ajim Premji (4%) and Temasek Holdings subsidiary (2%) in Rs.1950 cr.($297M) at approx. Rs. 227 per share with valuations of Rs.32500 cr.

Now just after 10 month price band at higher end is 334 means 47% increase in 10 month. ICICI selling 12.65% stake in Rs.6056 cr.

We were expecting more but not much on table for retail investors and not much listing gain also.

NAAM MOTE DARSHAN KHOTE

If I am wrong please comment.

100% right √