Investors get ready to invest in upcoming IPO from Insurance Company of PNB Metlife India, they has has filed draft red herring prospectus (DRHP) of an IPO to market regulator SEBI. The company have plan to sell around 495,898,076 equity shares through this IPO. The face value of each share in these issue is 10 rupees.
It is equal to the company’s 24.64% stake. Company have plan to raise ₹2000 to 2500 crore and value the firm at about ₹10,000 crore. PNB shares 8,04,95,242 shares, while MetLife International Holdings LLC will offer 12,90,36,281 shares of its stake. Around 10,76,11,370 shares of M Pallonji & Company., ELPRO International’s 1,91,64,765 shares will also be offered. Apart from this, IGE India will sell 1,81,64,766 shares, J&K Bank 7,66,41,892 and Moneymaya Holdings from its share of 62,89,461 shares.
These stocks will be listed on the market. According to draft papers, this will strengthen the brand as ‘PNB MetLife’. The company will not have any earnings from this IPO. After the IPO is introduced, PNB will become the country’s fourth insurer to be listed as MetLife.
The responsibility of managing this IPO has been given to Kotak Mahindra Capital, DSP Merrill Lynch, Citigroup Global Markets India, and PNB Investment Services. Soon after the SEBI approval, the IPO will soon knock on the Indian market.
Upcoming IPO 2018 in India – IPO of PNB MetLife is planning to come in Indian stock market in this year of 2018.
PNB MetLife IPO Reviews:
It is very good company from life insurance sector in India. Apply for long term & short term as well. They have best support of shareholders and financial condition is very strong.
|PNB Metlife India Insurance IPO Details|
|Issue Price Band||–|
|Minimum bid (lot size)||–|
|IPO Size||INR 2000-2500 Cr|
|Listing At||BSE, NSE|
PNB MetLife IPO Financial Performance (in INR crore)
PNB Metlife India Insurance Company IPO Lead Manager(s):
- Kotak Mahindra Capital
- DSP Merrill Lynch
- Citigroup Global Markets India
- PNB Investment Services
PNB Metlife IPO Promoters:
- To Be Updates Soon