Leading private sector insurer of India, ICICI Prudential Life has informed that it is not very much interested to come up with its initial public offer soon. Though the insurance regulator IRDA has announced that IPO guidelines will be out in the coming 45 days, but ICICI Prudential Life is not very much enthusiastic to hit the capital market soon. Managing Director and Chief Executive of ICICI Prudential Life, Mr. Sandeep Bakshi has said that the company is not interested to raise any capital from the market now. So the company is not thinking of its IPO at present. He has also mentioned that the company is well capitalized and don’t need shareholders fund now. Mr. Bakshi has said this at the 13th Global Conference on Actuaries

 

R Kannan from Insurance Regulatory and Development Authority Member (Actuaries) has informed that the regulator will introduce the IPO guidelines for the insurance companies within coming 30 to 45 days. He has also said that IRDA is also thinking to issue M&A guidelines for insurance companies within the next three months. It can be assumed, that declining to gather equity funds from shareholders through the route of IPO, ICICI Pru may try to sell to customers the idea that they have strong funds under their kitty. They may try to portray that they are doing profitable business, but only time will tell whether they are standing on real strong bases or just beating around the bush

Aniket Nag