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Shares of <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=ICICI+Prudential+Life" target="_blank">ICICI Prudential Life Insurance Co. Ltd</a> debuted at a 1.5% discount on Thursday; its Rs.6,057 crore initial public offer (IPO) was subscribed 10.48 times last week.
ICICI Prudential is the country’s largest private sector life insurance firm with assets of Rs.1.01 trillion. It is also the largest new share sale in India since state-run Coal India Ltd raised Rs.15,000 crore in 2010.
At 1.02 pm, ICICI Prudential Life shares traded 11% lower atRs.297.10 on the BSE against its issue price of Rs.334 a share. They opened at Rs.329, and touched a high and low ofRs.333.9 and Rs.297.10 respectively.
The company is the first insurer to hit the market with an IPO. The issue was priced at the upper end of the price band of Rs.300-334 per share.
Mint <a style="color: #000080;" href="http://www.livemint.com/Money/2CKBVABoWmsmfvOXdnoidM/ICICI-Prudentials-share-sale-price-expensive-say-analysts.html" target="_blank">had reported</a> on 19 September that ICICI Prudential Life’s IPO may not see much of a listing pop as valuations appear stretched, after the offer did not leave much on the table for investors. Analysts, however, had recommended a subscribe, citing long-term potential.
ICICI Prudential Life posted consolidated revenue ofRs.8,884.37 crore for the three months to June. Its net profit stood at Rs.404.9 crore for the same period, according to the information available in the red-herring prospectus.
The company reported consolidated revenue of Rs.20,227.94 crore for full-year fiscal 2016 compared with Rs.33,955.76 crore in fiscal year 2015. Its net profit for FY16 stood atRs.1,652.72 crore compared with Rs.1,640.35 crore in the prior year, as per the prospectus.
As of 31 December 2015, ICICI Prudential Life had assets under management of Rs.1.01 trillion.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/prudential-may-pare-stake-by-up-to-5-83-in-icici-prudential-life-after-ipo-53217/" target="_blank">India: Prudential may pare stake by up to 5.83% in ICICI Prudential Life after IPO</a> 
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/icici-prudential-life-insurance-to-launch-ipo-by-september-45828/" target="_blank">India: ICICI Prudential Life Insurance to launch IPO by September</a>
This story was first published on <a style="color: #000080;" href="http://www.livemint.com/Money/8gR1i1Pch06HCVDq9o8krN/ICICI-Prudential-Life-makes-stock-market-debut-at-15-disco.html" target="_blank">livemint.com</a>

Shares of ICICI Prudential Life Insurance Co. Ltd debuted at a 1.5% discount on Thursday; its Rs.6,057 crore IPO was subscribed 10.48 times last week.

India: Private insurer ICICI Prudential Life shares fall 11% in market debut

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India: Private insurer ICICI Prudential Life shares fall 11% in market debut

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