Insurance IPO

Go Digit IPO: God Digit issue was subscribed 24 per cent till 2 PM on day 1 of the offer, led by retail investors

Singaporean sovereign wealth fund Temasek Holdings on Thursday sold its entire 5.42 per cent stake in Policybazaar's parent firm PB Fintech for Rs 2,425 crore through open market transactions. Temasek Holdings' wholly-owned subsidiary Claymore Investments (Mauritius) Pte Ltd sold the shares of PB Fintech in three tranches on the BSE. According to the block deal data, Claymore Investments (Mauritius) Pte offloaded a total of 2,44,30,015 shares, representing a 5.42 per cent stake in PB Fintech. The shares were disposed of at an average price of Rs 992.8 apiece, taking the combined deal value to Rs 2,425.41 crore. Meanwhile, US-based financial services company Capital Group, through its various affiliates, acquired the shares of PB Fintech in seven tranches. The stock of PB Fintech fell 0.59 per cent to close at Rs 996.90 apiece on the BSE. PB Fintech was co-founded by Yashish Dahiya and Alok Bansal in 2008. The company operates online insurance aggregator Policybazaar and credit ..

With a number of insurance companies lining up for public share sales in the coming months, investment bankers and legal firms may have to grapple with a problem of plenty. The avalanche of share sales could lead to a clash in the timings for the appointment of bankers and legal firms, and result in a situation where a particular banker or legal firm appointed by one insurer is barred from the selection process of the other. The bankers and legal teams, too, might face a catch-22 situation in which they might have to decide in advance which insurer's share sale they want to be part of.Ten insurance companies --- including seven general insurers, of which four are government-owned --- are expected to hit the market with initial public offerings (IPOs) worth about Rs 30,000 crore in the coming months.SBI Life and ICICI Lombard have filed their offer documents with the Securities and Exchange Board of India (Sebi). State-owned insurance firms GIC and New India Assurance are reportedly ...

May be first pure general insurer to go public; Will comes out with both, OFS and fresh issue

Irdai puts total foreign investment in insurance sector at Rs 15,000 cr in past one year due to hike in FDI limit