It is a real life story. A story of an insurer that has managed to hold on to its lead in the marketplace for seven years.
ICICI Prudential Asset Management Company has set a price band of Rs 2,061- Rs 2,165 per share for its Rs 10,600-crore initial public offering (IPO) that will open on Friday. At the upper end of the band, the country's largest asset manager will command a valuation of Rs 1.07 trillion.
The insurer is a venture between banking major ICICI Bank and the UK's Prudential Corporation Holdings. Singapore's Temasek and Premji Invest are also the shareholders.
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
Corrective measures are already being taken by fund managers - overall allocation to the IT firm has been pruned by 120 basis points, from 4.43 per cent in March to 3.24 per cent in July
'Mr Modi has inherited a system that taxes businessmen and fritters the money away over ministries.'
ICICI Bank puts up a good show in Q4.
The exploration company will buy back shares from January 23 and extinguish them.
'We have great demographics, and are the fastest growing large economy. And we save.' 'All of which is great for financial services,' Aditya Birla Capital CEO Ajay Srinivasan tells Niraj Bhatt.
'Experts are not ruling out further pain as global factors cannot insulate India from the aftermath.'
Cairn, which is sitting on a cash pile of about $3 billion, in a statement said its board has approved buying 17.09 crore shares or 8.9 per cent of the total shareholding, from open market at no more than Rs 335 apiece.
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
A glance back at some of the important ups and down Indian Inc faced in 2018.
