India 's ICICI Lombard hopes to raise INR5,700 crore ( $ 500 m ) via an initial public offering ( IPO ) . While ICICI Bank will sell 31.76 million shares raising roughly Rs 2,099.40 crore (in the upper band), Fairfax will divest 54.48 million shares mopping up approximately Rs 3,601.50 crore. ICICI Lombard , which has about an 8.4 % market share of the country 's general insurance industry , will be India 's first non - life insurance to be listed . It has set a price band of INR651 to INR661 per share , and will see stakeholders Axis Bank and Fairfax Financial Holdings offload 86.24 million shares .
India 's ICICI Lombard hopes to raise INR5,700 crore ( $ 500 m ) via an initial public offering ( IPO ) . ICICI Lombard , which has about an 8.4 % market share of the country 's general insurance industry , will be India 's first non - life insurance to be listed . It has set a price band of INR651 to INR661 per share , and will see stakeholders Axis Bank and Fairfax Financial Holdings offload 86.24 million shares .