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ICICI General Insurance IPO: Invest for long term - IndiaNotes.com
ICICI General Insurance IPO: Invest for long term
SMC | Published: 14 Sep, 2017  | Source : IndiaNotes.com

Valuation


Considering the  valuation  at  upper  price  band  of  Rs.661 ,  EPS  and  P/E  of  FY2017  are   Rs. 14.14  and 46.75  multiple respectively  and  at  a  lower  price  band  of  Rs.  651,   P/E  multiple is  46.04;   at  upper  price band  of  Rs.661 ,  book  value  and  P/B  of  FY2017  are  Rs. 82.09 and  8.05  multiple respectively  and  at  a lower price band of Rs. 651,   P/B multiple is 7.93.   No change in pre and post issue EPS and Book Value  as  the  company  is  not  making  fresh  issue  of  capital.


Outlook


The  company  has  become  the  first  private-sector  non-life  insurer  in  India  to  reach  Rs. 10000  crore in GDPI  in  fiscal  2017.  Also,  the  strong  distribution  channel  enables  the  company  to  expand  its customer base. The company’s financial  performance has been strong and it  is  the  first  player to  go public from  the  insurance  segment. Considering all these  aspects, investment  for  long  term  may be considered.

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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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