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.

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