ICICI Lombard, India's largest private-sector general insurer, is selling about 19 per cent stake, valuing the company at Rs 30,000 crore. In an interview with Shilpy Sinha , CEO Bhargav Dasgupta said a 50 per cent jump in the valuation in less than four months is based on the feedback the bankers have given the management after their interactions with investors globally. Edited Excerpts:
How would you explain the surge in valuation from Rs 20,300 crore in May to Rs 30,000 crore in less than four months?
The earlier transaction was between existing shareholders. It was a private transaction between two shareholders. If you look at that valuation, it was based on prior year's numbers. There was no liquidity and there was a lock-in.
