ICICI Prudential Life: From dud IPO to star performer

After trading at a discount on listing, stock has gained 27%

Not much was going the way of ICICI Prudential Life (I-Pru Life), the life insurance arm of ICICI Bank, for a long time. Despite being the most celebrated initial public offering (IPO) of 2016, the stock was trading below its listing price of Rs 335 for over three months after listing. But 2017 has been better than anticipated for the insurer. With year-to-date gains of over 40 per cent, the I-Pru Life stock has outperformed index gains. Investors who purchased the stock during the IPO would be richer by 27 per cent now. With a market capitalisation of more than