Shares of ICICI Lombard General Insurance Company settled at Rs 681.55 on BSE, a premium of 3.1% over the initial public offer price of Rs 661 on its debut on the stock exchanges today, 27 September 2017.
The stock debuted at Rs 650, a discount of 1.66% to the initial public offer (IPO) price. The stock had hit a high of Rs 694 and a low of Rs 638.15. On BSE, 59.12 lakh shares were traded on the counter.
The IPO of ICICI Lombard General Insurance Company (ICICI Lombard) opened for subscription on 15 September 2017 and closed on 19 September 2017. The price band for the IPO was set at Rs 651-661 per share. The IPO had received strong response from investors. It was subscribed 2.98 times.
ICICI Lombard is the largest private-sector non-life insurer in India based on gross direct premium income (GDPI) for last fourteen straight years, after being one of the first few private-sector companies to commence operations in the sector in FY2002.
ICICI Lombard's profit after tax rose 27.01% to Rs 641.82 crore on 35.82% total income to Rs 983.65 crore in the year ended 31 March 2017 over the year ended 31 March 2016.
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