ICICI bank shareholders get reservation in ICICI Pru Life IPO

iciciICICI bank, an Indian multinational banking and financial services company, said its shareholders will get a reservation of 18.13 lakh shares in the upcoming initial public offering of its subsidiary ICICI Prudential Life Insurance.

Only individual shareholders will be eligible for this reservation.

On September 8, the private sector bank had said that it is conducting an initial public offering of its insurance unit. The insurance company had filed a red herring prospectus with the regulator.

The IPO will open for subscription on September 19 and close on September 21. The price band of has been fixed at Rs 300-334 per share and the total size of the issue will be around Rs 5000 crore.