ICICI Securities Ltd (I-Sec) is a leading technology-based securities firm in India. This company offers a wide range of financial services including brokerage, financial product distribution, and investment banking and focuses on both retail and institutional clients. I-Sec is ready to take on the primary markets with their initial public offering that will be open for applying from tomorrow. So let us check the ICICI Securities draft prospectus and consider the issue details, issue price, grey market premium, and financial data to post our ICICI Securities Ltd IPO Review in this article.
About ICICI Securities Ltd IPO :
- IPO Opens on – March 22, 2018.
- IPO Closes on – March 26, 2018.
- Face Value – Rs. 5 Per Equity Share.
- Issue Price – Rs. 519 – Rs. 520 Per Equity Share.
- Issue Type – Book Built Issue IPO.
- Retail Allocation – 50%
- Market Lot – 28 Shares.
- Minimum Order Quantity – 28 Shares.
- Issue Size – Offer for Sale of 77,249,508 Equity Shares of Rs 5 aggregating up to Rs [.] Cr.
- Listing Exchange – BSE NSE.
- Draft Prospectus – Click Here.
Objectives of the issue:
- This company is to achieve the benefit of listing the Equity Shares on the Stock Exchanges and for the sale of Equity Shares by the promoter selling shareholder.
- I-Sec expects that by listing the Equity Shares in the stock exchanges will enhance their visibility and also the brand image and will provide more liquidity to its existing shareholders.
About The Company –
- ICICI Securities Ltd is incorporated in 1995.
- This company provides equity capital market products including initial public offerings (IPO), further public offerings, rights offerings, convertible offerings, qualified institutional placements, non-convertible debentures, buyback, delisting, and open offers and international offerings for unlisted and listed entities.
- ICICIdirect.com is an online brokerage platform which is operated ICICI Securities Ltd for investors to invest in equity, derivatives, currency futures, mutual funds, and other financial products, as well as to access research information, stock picks, and mutual fund recommendations.
- ICICIdirect had approximately 3.8 million operational accounts of whom 0.7 million had traded on NSE in the preceding 12 months and acquired a total of 4.4 million customers through this platform.
- This company’s retail brokerage and distribution businesses consists of over 200 of their own branches, over 2,600 branches of ICICI Bank.
- Strengths of this company are-1. Largest equity broker in India powered by proprietary technology platform: ICICI Direct.
2. Strong and growing distribution business with an “Open-Source” distribution model.
3. Superior customer experience through product and technology innovation.
4. A strategic component of the ICICI ecosystem.
5. Leading institutional platform.
6. A strong financial performance with significant operating efficiency.
Promoters of the company :
- ICICI Bank Ltd is the promoter of this company.
ICICI Securities Ltd IPO Review:
ICICI Direct being India’s one of the top stockbrokers in terms of a number of accounts as well as in terms of total volume traded is an attractive company to invest in. Robust financial performance says for them. The current earnings per share are standing at 10.51 which proves the strong earning. The current grey market premium for ICICI Securities is quoting at Rs. 10 to Rs. 15 that also justifies the issue price of Rs. 519 to Rs. 520 per equity share. Hence, our ICICI Securities Ltd IPO Review is having a POSITIVE view on this I-Sec initial public offering. Invest in I-Sec for a long-term view.