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ICICI Prudential Life to conduct IPO in current fiscal year

ICICIPrudential Life Insurance Co. Ltd. is aiming to conduct its plannedIPO in the current financial year ending March 31, 2017, the Press Trust ofIndia reported July 12, citing Chanda Kochhar, managing director and CEO ofICICI Bank Ltd.

The CEO refused to disclose the size of ICICI PrudentialLife's listing, but said a primary issue of its shares is planned for thecurrent fiscal year, confirming a prior report from Reuters. Another from Mint in June cited sources as saying the insurer would list itsshares by September.

In April, ICICI Bank's board plans to sell part of itsshareholding in ICICI Prudential Life through an IPO. The life insurer is ajoint venture between the bank and the U.K.'s .