10 Jan 08 ICICI Securities IPO process to start in 6 months
ICICI Securities IPO process is likely to be started in the next 6 months. ICICI Bank has made its intention clear. It is going to come out with IPO’s for ICICI Securities, ICICI Prudential Life Insurance and ICICI Lombard General Insurance. ICICI Securities IPO will be the first to hit the markets followed by ICICI Prudential IPO and then ICICI Lombard IPO. ICICI Bank, by listing three of its subsidiaries, plans to unlock shareholder wealth. Due to this announcement, the share prices of ICICI Bank zoomed today even though the general market trend was very bearish. More details about ICICI Securities IPO will be known once the DRHP is filed with SEBI.
Looks like with so much value unlocking likely to take place in the coming 6-12 months, it would be a nice idea to start accumulating the shares of ICICI Bank at lows. It is highly unlikely that the share prices of ICICI Bank would go down from here on, unless ICICI Securities IPO fails to materialise.
Disclosure : I have minority stake in ICICI Bank. I was also employed with ICICI Bank till July 2007.
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