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HDFC Life IPO : Higher share of traditional policies but stretched valuations

HDFC Life IPO : Higher share of traditional policies but stretched valuations

Issue Date: Nov 7, 2017 – Nov 9, 2017 Face Value: Rs 10 Per Equity Share Issue Type: Book Built Issue IPO Issue Size: (Rs Crore) 8245-8695 Price Band: Rs 275 – Rs 290 per equity share No of Shares on Offer: 29.9 crore (QIB 50%, Non-Institutional 15%, Retail 35%) Market Lot: 50 Shares Minimum Order Quantity: 50 Shares Listing At: BSE, NSE About the company HDFC Standard Life Insurance Company Ltd (HDFC Life), incorporated in 2000, is Mumbai based life insurance provider. It is a joint venture between HDFC and Standard Life Aberdeen plc. It offers a wide range of individual and group insurance solutions including Protection, Pension, Savings & Investment and Health, along with Children’s and Women’s Plan. As on Sept 2017, its product portfolio comprised of 32 individual and 10 group products as well as 8 optional rider benefits. It sells policies through its own branches, Insurance […]

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GIC Re IPO : Good business; Punchy valuations

GIC Re IPO : Good business; Punchy valuations

Issue Open: Oct 11, 2017 – Oct 13, 2017 Issue Type: Book Built Issue IPO Issue Size: 124,700,000 Equity Shares of Rs 5 aggregating up to Rs 11,372.64 Cr Face Value: Rs 5 Per Equity Share Issue Price: Rs 855 – Rs 912 Per Equity Share Market Lot: 16 Shares Minimum Order Quantity: 16 Shares Listing At: BSE, NSE   About the company GIC Re provides reinsurance across many key business lines including fire (property), marine, motor, engineering, agriculture, aviation/space, health, liability, credit and financial and life insurance. The company has exposure to domestic and international business. In FY17, reinsurance written for risks outside of India represented 30.5% of gross premiums. It has underwritten business from 161 countries and as on June 30, 2017 the company was ranked as the 12th largest global reinsurer in 2016 and the 3rd largest Asian reinsurer in 2015 in terms of gross premium accepted. The […]

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Godrej Agrovet; Commodity business with scale advantage; valuation unjustified

Godrej Agrovet; Commodity business with scale advantage; valuation unjustified

Issue Date: Oct 4, 2017 – Oct 6, 2017 Face Value: INR 10 per equity share Issue Type: Book Built Issue IPO Issue Size: Fresh Issue: Rs 291 Cr Offer for Sale: Rs 866 Cr Issue Size: Rs 1157 Cr Price Band: Rs 450 – Rs 460 Per Equity Share Market Lot: 32 Shares approx Minimum Order Quantity: 32 Shares Listing at: BSE, NSE About the company Godrej Agrovet is a diversified, research and development focused agri-business company with operations across five verticals namely; animal feed, crop protection, oil palm, dairy, poultry and processed foods. Animal Feed: The portfolio of products comprises of cattle feed, poultry feed (broiler and layer), aqua feed (fish and shrimp) and specialty feed. It has aggregate production capacity of 23,00,000 MTPA, as of June 30, 2017. Also, its joint venture company in Bangladesh named ACI Godrej has two manufacturing facilities with an aggregate production capacity of 5,70,000 MTPA, as of June 30, 2017. Crop […]

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SBI Life IPO – Stretched Valuation; Euphoria in IPO Space

SBI Life IPO – Stretched Valuation; Euphoria in IPO Space

Issue Date: Sep 20, 2017 – Sep 22, 2017 Face Value: INR 10 per equity share Issue Type: Book Built Issue IPO Issue Size: Offer for Sale of 120,000,000 Equity Shares Issue Size: Rs 8,400.00 Cr Price Band: Rs 685 – Rs 700 Per Equity Share Market Lot: 21 Shares approx Minimum Order Quantity: 21 Shares Listing at: BSE, NSE   About the company SBI Life Insurance Company Limited (SBI Life) is the largest life insurance company in  India in terms of New Business Premium (NBP) with the highest 20.04% market share. It was incorporated in March 2001 as a joint venture between largest PSU bank SBI(74%) and global insurance company BNP Paribas Cardif (BNPPC) (26%) with equity capital of Rs.125Cr. Initially, the business was operated only through the agency channel with 719 advisors and by end of FY03 bancassurance channel was launched, which has now become an immense network covering rural and urban India. In FY06,SBI Life became […]

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ICICI Lombard IPO – Stretched Valuation; Taking advantage of Euphoria

ICICI Lombard IPO – Stretched Valuation; Taking advantage of Euphoria

Issue Date: Sep 15, 2017 – Sep 19, 2017 Face Value: INR 10 per equity share Issue Type: Book Built Issue IPO Issue Size: Offer for Sale of 8,62,40,000 shares Issue Size: INR 5,700 Cr. Price Band: INR Rs 651 – 661 per equity share Market Lot: 22 Shares approx Minimum Order Quantity: 22 Shares Listing at: BSE, NSE   About the company ICICI Lombard General Insurance Company Limited largest private‐sector non‐life insurer in India based on gross direct premium income in fiscal 2017. Incorporated in 2000, ICICI Lombard General Insurance Company Ltd founded as a joint venture between with ICICI Bank Limited and Fairfax Holdings Canada.   It offers customers a range of products, including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels. In fiscal 2017, the company issued approximately 17.7 million policies and their gross direct premium income was Rs.107.25 billion, translating into a market share, on a gross direct […]

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