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ICICI Lombard General Insurance Company Limited
Our Company was incorporated at Mumbai on October 30,2000 as ICICI Lombard General
Insurance Company Limited, a public limited company under the Companies Act, 1956. as
amended. Our Company obtained the certificate of commencement ot business on January
11,2001 issued by the Registrar of Companies, Mumbai (the 'RoC') For
details relating to change in the registered office of our Company, see 'History and
Certain Corporate Matters' on page 191 of foe Prospectus .
Registered Office:ICICI Lombard House 414,Veer Savarkar Marg, Near
Siddhivinayak Temple Prabhadevi, Mumbai 400 025; Tel: (91 22) 61961100. Fax:
(91 22) 61961323. Corporate Office: 15th Floor. Tower B, Pennsula
Business Part, Lower Parel, Mumbai 400013; Tel: (91 22) 6196 1100, Fax:
(91 22) 6196 1323. Contact Person: Vikas Mehra. Company Secretary and
Compliance Officer; E-mail: investors@icicilombard.com;
Website: https://www.iciclombard.com;
Corporate Identity Number: U67200MH2000PLC129408: IRDAI
Registration Number: 115; Date of Registration: August 3,2001.
OUR PROMOTER: ICICI BANK LIMITED
Our Company has filed the Prospectus dated September 21, 2017 with the
Registrar of Companies, (the 'Prospectus') and the Equity Shares are proposed to
be listed on BSE Limited ('BSE') and National Stock Exchange of India Limited
('NSE') and trading will commence on September 27,2017.
BASIS OF ALLOTMENT
PUBLIC OFFER OF 86.247.187 EQUITY SHARES OF FACE VALUE OF RS 10 EACH
('EQUITY SHARES') OF ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED (OUR
'COMPANY') FOR CASH AT A PRICE OF RS 661 PER EQUITY SHARE, THROUGH AN OFFER FOR
SALE OF 31.761.478 EQUITY SHARES BY ICICI BANK LIMITED (ICICI BANK OR THE 'PROMOTER
SELLING SHAREHOLDER') AND 54,485,709 EQUITY SHARES BY FAL CORPORATION ('FAL OR
THE 'INVESTOR SELLING SHAREHOLDER' AND TOGETHER WITH THE PROMOTER SELLING
SHAREHOLDER THE 'SELLING SHAREHOLDERS'). AGGREGATING TO RS 57.009.4 MILLION
('OFFER'), INCLUDING A RESERVATION OF UP TO 4.312.359 EQUITY SHARES FOR PURCHASE
BY ICICI BANK SHAREHOLDERS (AS DEFINED IN DEFINITIONS AND ABBREVIATIONS') FOR CASH AT
A PRICE OF RS 661 PER EQUITY SHARE AGGREGATING TO RS 2,850.5 MILLION ('ICICI BANK
SHAREHOLDERS RESERVATION PORTION'). THE OFFER CONSTITUTES 19.00% OF OUR POST-OFFER
PAID-UP EQUITY SHARE CAPITAL ANO THE NET OFFER CONSTITUTES 18 05% OF OUR POST-OFFER
PAID-UP EQUITY SHARE CAPITAL.
THE ANCHOR INVESTOR OFFER PRICE IS RS 661 PER EQUITY SHARE
Offer Price: Rs 661 per Equity Share of face value of Rs 10 each
Anchor Investor Offer Price: Rs 661 per Equity Share
The Offer Price is 66.1 times the face value
Risks to Investors relating to pricing:
• The 3 GCBRLMs and the 3 BRLMs associated with the Offer have handled 43*
public issues in the past three years out of which 11 * issues closed below the issue
price on the listing date.
• The Price/Earnings ratio ('P/E Ratio') based on diluted EPS
for Fiscal 2017 for the Company at the upper end of the Price Band is as high as 46.39 as
compared to the NIFTY 50 price earnings ratio of 23.26 (as of March 31, 2017) as there are
no listed non-life insurance companies in India.
• Average cost of acquisition of Equity Shares for the Promoter Selling
Shareholder (ICICI Bank) and the Investor Selling Shareholder (FAL Corporation) is Rs
43.62 per Equity Share and Rs 137.97 per Equity Share, respectively. The Offer Price at
the upper end of the Price Band is significantly high at Rs 661 per Equity Share.
*As disclosed in the Prospectus.
BID/ OFFER PERIOD: OPENED ON: FRIDAY, SEPTEMBER 15, 2017;
CLOSED ON : TUESDAY, SEPTEMBER 19, 2017
ANCHOR INVESTOR BID/ OFFER PERIOD WAS: THURSDAY, SEPTEMBER 14. 2017
This Offer has been made through the Book Building Process, in terms ol Rule 19(2)(b)
of the Securities Contracts (Regulation) Rules, 1957, as amended ('SCRR'),
The Offer has been made in accordance with Regulation 26(1) of the Securities and Exchange
Board of India (issue of Capital and Disclosure Requirements) Regulations, 2009 as amended
('SEBI Regulations'), wherein not more than 50% of the Net
offer was alocated on a proportionate basis to Qualified Institutional Buyers ('QIBs'),
provided that our Company and the Selling Shareholders, in consultation with the GCBRLMs
and the BRLMs. allocated 60% of the QIB Portion to Anchor Investors on a discretionary
basis, out of which one-third was reserved for domestic Mutual Funds only, subject to
valid Bids being received from domestic Mutual Funds at the Anchor Investor Allocation
Price, in accordance with the SEBI Regulations. 5% of the QIB Portion (excluding the
Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual
Funds only, and the remainder of the QIB Portion was available for allocation on a
proportionate basis to an QIB Bidders (other than Anchor Investors), including Mutual
Funds, subject to valid Bids being received at the Offer Price. Further, not less than 15%
of the Net Offer was available for allocation on a proportionate basis to
Non-Institutional Investors and not less than 35% of the Net Offer was available for
allocation to Retail Individual Bidders in accordance with the SEBI Regulations, subject
to valid Bids being received at the Offer Price. All potential investors, other than
Anchor Investors, were required to mandatorily utilise the Application Supported by
Blocked Amount ('ASBA'). process providing details of their
respective bank account which were blocked by the SCSBs, to participate in this Offer. For
details, see 'Offer Procedure' on page 440 of me Prospectus.
The Offer received 1.054.336 applications for 207.144,316 Equity Shares (prior to
technical rejections) resulting in 2.40 times subscnption. The details of the applications
received in the Offer from various categones are as under: (Before Technical
Rejections)
| SI No. |
Category |
No. of
Applications |
No. of
Equity Shares
Applied |
Shares
Reserved as per
Prospectus |
No. of
times
Subscribed |
Amoant (Rs) |
| A |
Retail individual Bidders |
1,004.793 |
34.003.178 |
28.677,190 |
1.19 |
22.492,551,418 00 |
| B |
Non Institutional Bidders |
1.075 |
9.360054 |
12.290.225 |
0.76 |
6,185,118,390 00 |
| C |
Qualified Institutional Bidders (Excluding Anchor Investors |
126 |
133,784,420 |
16.386.966 |
8.16 |
88,431.482,678.00 |
| D |
Anchor Investors |
64 |
26,131,270 |
24.580.447 |
1.06 |
17,272,769,470.00 |
| E |
ICICI Bank Shareholders Reservation |
48.278 |
3.865.994 |
4.312.359 |
0.90 |
2.559,678,144.00 |
|
Total |
1.054.336 |
207.144.916 |
86.247,187 |
2.40 |
136.941.600,100.00 |
Final Demand
A summary of the final demand as at different Bid prices is as under:
| SI No. |
Bid Price |
Bids Quantity |
(%) to Total |
Cumulative Total |
% Cumulative Total |
| 1 |
651 |
545,446 |
0.30 |
545,446 |
0.30 |
| 2 |
652 |
36.674 |
0.02 |
582,120 |
0.32 |
| 3 |
653 |
22,946 |
0.01 |
605,066 |
0.33 |
| 4 |
654 |
12,342 |
0.01 |
617,408 |
0.33 |
| 5 |
655 |
146,916 |
0.08 |
764,324 |
0.41 |
| 6 |
656 |
73.502 |
0.04 |
837,826 |
0.45 |
| 7 |
657 |
29,238 |
0.02 |
867,064 |
0.47 |
| 8 |
658 |
42,636 |
0.02 |
909,700 |
0.49 |
| 9 |
659 |
70,488 |
0.04 |
980.188 |
0.53 |
| 10 |
660 |
145,640 |
0.08 |
1,125.828 |
0.61 |
| 11 |
661 |
149,768.080 |
81.06 |
150,893,908 |
81.66 |
| 12 |
CUTOFF |
33,877,932 |
18.34 |
184,771,840 |
100.00 |
|
TOTAL |
184,771,840 |
100.00 |
|
|
The Basis of Allotment was finalized in consultation with the Designated Stock
Exchange, being the BSE on September 23. 2017.
A. Allotment to Retail Individual Bidders (after technical rejections)
(including ASBA Applications).
The Basis of Allotment to the Retail individual Bidders, who have bid at the Cut-Off Price
or at the Offer Price of Rs 661 per Equity Share, was finalized in consultation with BSE.
This category has been subscribed to the extent of 1.0922 times. The total number of
Equity Shares Allotted in Retail Portion is 30,212,461 Equity Shares to 977,024 successful
Retail Individual Bidder. The category-wise details of the Basis of Allotment are as
under:
| Category |
No. of
Applications
Received |
% of
Total |
Total No. of
Equity Shares
Applied |
% to
Total |
No. of Equity
Shares Allotted
per Bidder |
Ratio |
Total No. of
Equity Shares
Allotted |
| 22 |
844.471 |
86.43 |
18.578.362 |
56.30 |
22 |
1 : 1 |
18 578,362 |
| 44 |
53.769 |
5.50 |
2.365.836 |
7.17 |
38 |
1 : 1 |
2.043,222 |
43.702 Allottees in category 44 allotted 1
(one) additional share |
1 |
191 : 235 |
43,702 |
| 66 |
20.111 |
2.06 |
1.327.326 |
4.02 |
55 |
1 : 1 |
1.106.105 |
| 88 |
10.258 |
1.05 |
902.704 |
2.74 |
72 |
1 : 1 |
738.576 |
| 110 |
11.295 |
1.16 |
1.242.450 |
3 77 |
89 |
1 : 1 |
1.005.255 |
| 132 |
4,760 |
0.49 |
628,320 |
1.90 |
105 |
1 : 1 |
499,800 |
| 154 |
5.520 |
0.56 |
850,080 |
2.58 |
122 |
1 : 1 |
673,440 |
| 176 |
1.488 |
0.15 |
261,888 |
0.79 |
139 |
1 : 1 |
206,832 |
| 198 |
932 |
0.10 |
184,536 |
0.56 |
155 |
1 : 1 |
144,460 |
| 220 |
4.132 |
0.42 |
909.040 |
2.75 |
172 |
1 : 1 |
710,704 |
| 242 |
737 |
0.08 |
178.354 |
3.54 |
189 |
1 : 1 |
139 293 |
| 264 |
1.036 |
0.11 |
273,504 |
0.83 |
205 |
1 : 1 |
212,380 |
| 286 |
18.515 |
1.90 |
5.295,290 |
16.05 |
222 |
1 : 1 |
4.110,330 |
| TOTAL |
977.024 |
100.00 |
32.997,690 |
100 00 |
|
|
30.212,461 |
B. Allotment to Non-Institutional Bidders (After Technical Rejections):
The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Offer Price
of Rs 661 per Equity Share, was finalized in consultation with the BSE. The
Non-Institutional Portion has been subscribed to the extern of 0.7492 tunes. The total
number of Equity Shares Allotted in this category is 92,90,182 Equity Shares to 992
successful Non- Institutional Bidders. The under subscribed portion of 3,109,314 Equity
Shares in the Non-Institutional Bidders has been spilled over to QIBs and Retail
Individual Bidders in the ratio of 50: 35. The category wise details of the Basis of
Allotment are as under: (Sample as under)
| Category |
No. of
Applications
Received |
% of
Total |
Total No. of
Equity Shares
Applied |
% to
Total |
No. of Equity
Shares Allotted
per Bidder |
Ratio |
Total No. of
Equity Shares
Allotted |
| 308 |
246 |
24.80 |
75.768 |
0.82 |
308 |
1:1 |
75,768 |
| 13.596 |
1 |
C 10 |
13.596 |
0.15 |
13.596 |
1:1 |
13.596 |
| 13,992 |
1 |
0.10 |
13,992 |
0.15 |
13,992 |
1:1 |
13.992 |
| 14,806 |
1 |
0.10 |
14,806 |
0.16 |
14.806 |
1:1 |
14,806 |
| 15.004 |
1 |
0.10 |
15.004 |
0.16 |
15.004 |
1:1 |
15.004 |
| 15,114 |
13 |
1.31 |
196.482 |
2.11 |
15.114 |
1:1 |
196.482 |
| 15.136 |
1 |
0.10 |
15.136 |
0.16 |
15.136 |
1:1 |
15.136 |
| 19,646 |
1 |
0.10 |
19.646 |
0.21 |
19.646 |
1:1 |
19.646 |
| 151,294 |
1 |
0.10 |
151,294 |
1.63 |
151.294 |
1:1 |
151.294 |
| 166,276 |
1 |
0.10 |
166.276 |
1.79 |
166.276 |
1:1 |
166.276 |
| 226,908 |
1 |
0.10 |
226,908 |
2.44 |
226,908 |
1:1 |
226,908 |
| 292,600 |
2 |
0.20 |
585,200 |
6.30 |
292,600 |
1:1 |
585.200 |
| 302.566 |
1 |
0.10 |
302.566 |
3.26 |
302,566 |
1:1 |
302.566 |
| 529,540 |
1 |
0.10 |
529.540 |
5.70 |
529,540 |
1:1 |
529.540 |
| 1 739.782 |
1 |
0.10 |
1.739.782 |
18.73 |
1,739.782 |
1:1 |
1,739.782 |
| 2,798,774 |
1 |
0.10 |
2.798.774 |
30.13 |
2,798,774 |
1:1 |
2.798.774 |
C. Allotment to QIBs (excluding anchor investors) (After Technical Rejections):
Allotment to QIBs. who have Bid at the Offer Price of Rs 661 per Equity Share, has been
done on a proportionate basis in consultation with BSE. This category has been subscribed
to the extent of 7.1999 times of QIB Portion. As per the SEBI Regulations. Mutual Funds
were Allotted 5% of the Equity Shares of QIB Portion available i.e. 929,011 Equity Shares
and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining
available Equity Shares ie.17.651.198 Equity Shares on a proportionate basis. The total
number of Equity Shares Allotted in the QIB Portion is 18,580,209 Equity Shares, which
were allotted to 125 successful QIB Bidders. The category-wise details of the Basis of
Allotment are as under:
| Category |
Fls/Banks |
FII/FPI |
MFs |
ICs |
Others |
Total |
| QIB (Excluding Anchor Investors) |
298,639 |
6.841.723 |
8.676.432 |
1.209,308 |
1.554,107 |
18,580,209 |
D. Allotment to Anchor Investors (After Technical Rejections):
The Company and the Selling Shareholders, in consultation with the BRLMs, have allocated
24,580,447 Equity Shares to 64 Anchor Investors (through 64 Applications) at the Anchor
Investor Offer Price of Rs 661 per Equity Share in accordance with the SEBI Regulations
This represents 60% of the QIB Portion.
| Category |
Fls/Banks |
MFs |
ICs |
AIF |
FII/FPI |
Total |
| Anchor Investors |
680,812 |
8.630.776 |
1.551,638 |
642.114 |
13.075.107 |
24.580.447 |
E. Allotment under ICICI Bank Shareholders Reservation Portion.
The Basis of Allotment to investors under the ICICI Bank Shareholders Reservation Portion,
who have bid at the Offer Price of Rs 661 per Equity Share, was finalized in consultation
with the BSE The ICICI Bank Shareholders Reservation Portion has been subscribed to the
extent of 0.8311 times. The total number of Equity Shares Allotted in this category is
3,583,888 Equity Shares to 44.237 successful Bidders. The under subscribed portion of
728,471 Equity Shares in the ICICI Bank Shareholders Reservation Portion has been
spilled over to QIBs. Non-Institutional Bidders and Retail Individual Investors in the
ratio of 50:15:35. The category-wise details of the Basis of Allotment are as under
(Sample as under)
| Category |
No. of
Application
Received |
% of
Total |
Total No. of
Equity Shares
Applied |
% to
Total |
No. of Equity
Shares Allotted
for Bidder |
Ratio |
Total No. of
Equity Shares
Allotted |
| 22 |
22,202 |
50.19 |
488,444 |
13.63 |
22 |
1 : 1 |
488.444 |
| 44 |
6.787 |
15.34 |
298,628 |
8.33 |
44 |
1 : 1 |
298.628 |
| 66 |
3.091 |
6.99 |
204,006 |
5.69 |
66 |
1 : 1 |
204,006 |
| 88 |
1,687 |
3.81 |
148,456 |
4.14 |
88 |
1 : 1 |
148,456 |
| 110 |
2,153 |
4.87 |
236,830 |
6.61 |
110 |
1 : 1 |
236.830 |
| 132 |
833 |
1.88 |
109,956 |
3.07 |
132 |
1 : 1 |
109.956 |
| 154 |
1,148 |
2.60 |
176,792 |
4.93 |
154 |
1 : 1 |
176.792 |
| 176 |
292 |
0.66 |
51,392 |
1.43 |
176 |
1 : 1 |
51.392 |
| 4.510 |
1 |
0.00 |
4,510 |
0.13 |
4.510 |
1 : 1 |
4,510 |
| 4,708 |
1 |
0.00 |
4,708 |
0.13 |
4.708 |
1 : 1 |
4,708 |
| 6,160 |
1 |
0.00 |
6,160 |
0.17 |
6.160 |
1 : 1 |
6,160 |
| 7,546 |
1 |
0.00 |
7,546 |
0.21 |
7,546 |
1 : 1 |
7,546 |
| 7,568 |
l |
0.00 |
7.568 |
0.21 |
7.568 |
1 : 1 |
7.568 |
| 11.000 |
1 |
0.00 |
11,000 |
0.31 |
11.000 |
1 : 1 |
11,000 |
| 15,114 |
2 |
0.00 |
30,228 |
0.84 |
15.114 |
1 : 1 |
30,228 |
| 75.636 |
1 |
0.00 |
75,636 |
2.11 |
75,636 |
1 : 1 |
75,636 |
The IPO Committee of our Company on September 23,2017 has taken on record the Basis of
Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has
allotted the Equity Shares to various successful Bidders. The Allotment Advice
-cum-lntimations and/ or notices will be dispatched to the addresses of the investors as
registered with the depositories. Further, the instructions to the Self Certified
Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued
on September 23, 2017 and payment to non-Syndicate brokers have been issued on Septembor
25,2017 In case the same is not received within ten days, investors may contact the
Registrar to the Offer at the address given below. The Equity Shares Allotted to the
successful Allottees have been uploaded on September 25, 2017 for credit into the
respective beneficiary accounts subject to validation of the account details with the
depositories concerned The Company had filed the listing applications with BSE and NSE on
September 25, 2017. The Company has received listing and trading approval from BSE and NSE
and the trading will commence on Septembor 27,2017.
All capitalised terms used and not specifically defined herein shall have the same meaning
as asenbed to them in the Prospectus.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the
Offer, Karvy Computershare Private Limited at www.karisma.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrar to
the Offer quoting ful name of the first/sole Bidder, Bid cum Application Form number,
Bidder DP ID. Client ID. PAN. date of submission of Bid cum Application Form, address of
the Bidder, number of Equity Shares applied for, the name and address of the Designated
Intermediary where the Bid cum Application Form was submitted by the Bidder, and a copy of
the Acknowledgment Slip received from the Designated Intermediary at the address given
below:
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31 -32 Gachibowli. Financial District, Nanakramguda.
Hyderabad 500 032
Tel: (91 40)67162222: Fax: (91 40)2343 1551; E-mail.einward.ris@karvy.com;
Investor grievance e-mail: icicilombard.ipo@karvy.com
Website: www.karisma.karvy.com:
Contact person: Mr M. Murali Krishna
SEBI registration number: INR000000221
| Place: Mumbai Date: September 26,2017
|
For ICICI LOMBARD GENERAL INSURANCE COMPANY
LIMITED
On behalf of the Board of Directors
Sd/-
Company Secretary and Compliance Officer |
|
Zerodha (Trading & Demat Account)
RHP
