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May 30th 2017 : Secondary Market Values ICICI Lombard at Rs 26kcr

Secondary Market Values ICICI Lombard at Rs 26kcr :

The secondary market values general insurer ICICI Lombard 30 per cent higher than the Warburg Pincus deal which valued the insurer at Rs 20,000 crore. The general insurer, planning to be the first to be listed, is fetching a premium because those with Esops are selling shares at Rs 550-570 apiece valuing the insurer at Rs 26,000 crore in the secondary market, said sources in know of the situation.

On Saturday, ICICI Lombard General Insurance said its foreign partner, Canada-based Fairfax, has offloaded part stake of 12.18 per cent to a clutch of investors, including Warburg Pincus, for Rs 2,473 crore. Experts expect heightened off-market activity post the deal.

For more details, kindly click on the below link:

http://economictimes.indiatimes.com/markets/stocks/news/secondary-market-values-icici-lombard-at-rs-26kcr/articleshow/58905381.cms

 

May 23rd 2017: ICICI Lombard may be first private general insurer to go public this year

ICICI Lombard may be first private general insurer to go public this year:

ICICI Lombard, the largest private general insurer in the country, has begun groundwork for its initial public offering (IPO), in what may well be the first public offering by a private general insurer.

 

The insurer has begun preliminary discussions with investment bankers and is aiming to hit the market in the second half of this financial year, said two people familiar with the matter. The issue is expected to be anywhere between Rs 3,000 and Rs 4,500 crore.

 

is a joint venture between and Canada-based Financial Holdings. The will help shareholders to monetise their holdings and help Fairfax, which currently holds 35 per cent in the joint venture, to divest its stake.
For more details, click on the following link:
http://www.business-standard.com/article/markets/icici-lombard-may-be-first-private-general-insurer-to-go-public-this-year-117051801385_1.html

May 23rd 2017: Tata Technologies buys Swedish engineering & design specialist Escenda

Tata Technologies buys Swedish engineering & design specialist Escenda:

has entered into a definitive agreement to acquire AB, the Gothenburg (Sweden) based & design specialist.

 

The acquisition helps accelerate its plans to expand in Europe due to the rapid growth opportunity the region offers in both the and sectors. Europe’s industry is the world’s leading producer of motor vehicles by volume and is also the largest private investor in R&D in Europe.

 

Following the acquisition, will become a wholly owned subsidiary of Europe Limited. The company will maintain the same management team and full workforce under the new ownership.
For more details, click on the following link:
http://www.business-standard.com/content/b2b-manufacturing-industry/tata-technologies-buys-swedish-engineering-design-specialist-escenda-117050900317_1.html

May 23rd 2017: HDFC Life inks distribution tie-up with Catholic Syrian Bank

HDFC Life inks distribution tie-up with Catholic Syrian Bank:

HDFC Life today said it has entered into a bancassurance tie-up with Catholic Syrian Bank to distribute its individual life insurance products to the private lender’s customers.

With this partnership, HDFC Life will offer its leading range of individual life insurance, health and pension products to the Catholic Syrian Bank’s 1.5 million customer base across all its branches over a period of time, a release said.

“We are proud to announce our partnership with Catholic Syrian Bank, our first bank partnership in Kerala. In keeping with our endeavour to increase our reach and access customers across geographies, this partnership would enable us to offer our products to over 1.5 million customers of Catholic Syrian Bank across Kerala and other states,” said HDFC Life Managing Director and CEO Amitabh Chaudhry.

may 16th 2017 : MSEI to launch new interest rate futures contracts tomorrow

MSEI to launch new interest rate futures contracts tomorrow:

Metropolitan Stock Exchange of India Ltd (MSEI) will introduce tomorrow new 10-year interest rate futures (IRF) contracts offering 6.79 per cent yield on central government bonds. The contracts would mature in 2027 and are available to entities like banks, primary dealers, mutual funds, insurers, FIIs, corporates and retail investors, for trading on the exchange’s platform, MSEI said in a statement today.

“The stock exchange will launch the new IRF contracts on May 16,” MSEI said. Other national bourses, BSE and NSE would also be launching similar contracts tomorrow.

For more details, kindly click the following link:

MSEI to launch new interest rate futures contracts tomorrow

May 16th 2017 : HDFC Life inks distribution tie-up with Catholic Syrian Bank

HDFC Life inks distribution tie-up with Catholic Syrian Bank:

HDFC Life today said it has entered into a bancassurance tie-up with Catholic Syrian Bank to distribute its individual life insurance products to the private lender’s customers.

With this partnership, HDFC Life will offer its leading range of individual life insurance, health and pension products to the Catholic Syrian Bank’s 1.5 million customer base across all its branches over a period of time, a release said.

“We are proud to announce our partnership with Catholic Syrian Bank, our first bank partnership in Kerala. In keeping with our endeavour to increase our reach and access customers across geographies, this partnership would enable us to offer our products to over 1.5 million customers of Catholic Syrian Bank across Kerala and other states,” said HDFC Life Managing Director and CEO Amitabh Chaudhry.

May 5th 2017: Dollar Industries gets listed on NSE

Dollar Industries gets listed on NSE:

Kolkata based hosiery company Dollar Industries Limited made its debut on the National Stock Exchange with effect from today, a company statement said.

The listing of the company, on one of the premier stock exchanges of the country, was expected to enhance the visibility of the company’s equity shares and also provide liquidity for its existing and prospective investors.

Vinod Kumar Gupta, Managing Director, Dollar, said “listing on one of the premier stock exchanges is a significant milestone for the company“.

The company has a market share of over 15 per cent in the branded knitwear market, the statement said.

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