In today’s briefing:
- Daemyung Energy Bookbuilding Results
- Life Insurance Corp of India IPO: Valuation Insights
Daemyung Energy Bookbuilding Results
- Daemyung Energy announced its IPO book building results. The IPO price has been determined at 15,000 won, which is at the low end of the IPO price range.
- There were 890 institutions that were involved in the IPO survey and the demand ratio was 255 to 1. The IPO offering amount is 37.5 billion won.
- Our base case valuation of Daemyung Energy is target price of 28,784 won per share, which is 92% premium to the IPO price of 15,000 won.
Life Insurance Corp of India IPO: Valuation Insights
- Life Insurance Corp of India (LIC) (1248Z IN) is the largest life insurer in India. At the IPO price range of Rs902-904, the Indian government aims to raise $2.6-2.7 billion.
- In Life Insurance Corp of India IPO: Key Takeaways from the RHP, we outlined the latest developments from the Red Herring Prospectus.
- In this note, we look at LIC’s valuation metrics. In light of the challenging market conditions, the IPO price range is reasonable.
Before it’s here, it’s on Smartkarma
