General Insurance Corporation Of India Ipo

General insurance corporation of india ipo

General Insurance Corporation of India IPO, General Insurance Corporation IPO Detail, GIC IPO, General Insurance Corporation of India Allotment Status, Subscription Info, General Insurance Corporation of India Grey Market Rates, General Insurance Corporation of India GMP, GIC IPO Listing Date, Review, Ratings, Poll and all other details.

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General Insurance Corporation of India IPO, General Insurance Corporation GIC Re IPO Detail

General Insurance Corp of India (GIC Re) is coming with an Initial public offer to the markets next week.

The IPO of GIC is going to hit the markets in the second week of October 2017.

GIC IPO Review: Insurer of Insurance companies

The IPO will open on 11 October 2017. GIC IPO Size: The GIC IPO is going to be the second biggest IPO after the Coal India IPO in October 2008.

The size of General Insurance Corporation of India IPO is Rs. 11,370 crore while Coal India’s IPO size was Rs.

GIC Re IPO opens today: Go for long-term subscription, say analysts

15,200 crore. This is the fourth IPO announced for this month. Currently, The IPO of Indian Energy Exchange, MAS Financial Services and Godrej Agrovet is already announced.

Investors should wisely choose these IPOs to make money.

They must read the fundamentals of the company before applying. We advise investors to look at all factors before making their decision.

Investors should closely watch the conditions of the primary markets along with the secondary markets. This will give them a proper idea about the IPO.

GIC Re IPO is a mega IPO, you can say by looking at the size of the IPO.

GIC IPO REVIEW - GENERAL INSURANCE CORPORATION OF INDIA IPO - IPO

The subscription offer will conclude on 13 October 2017. The company is going to sell 12,47,00,000 shares to the investors.

General insurance corporation of india ipo

The price band is also fixed for this IPO and the state-run reinsurer has decided to sell its share in the range of Rs. 855 – Rs. 912 apiece. There is one good news for the retail investors that they are going to get a discount.

General Insurance Corporation IPO Details

The company has decided to give a discount of Rs. 45 per share.

GIC Re IPO

About the company General Insurance Corp of India (GIC Re) is the largest reinsurance company owned by Government of India.

It was incorporated on 22 November 1972. The company is based in Mumbai. The company was ranked as the 12th largest global reinsurer in 2016 and the 3rd largest Asian reinsurer in 2015. The company provides reinsurance in various areas such as fire (property), agriculture, aviation/space, marine, motor, engineering, health, liability, credit and financial and life insurance.

It has four fully owned subsidiary companies:

  1. National Insurance Company Limited
  2. The New India Assurance Company Limited
  3. The Oriental Insurance Company Limited
  4. United India Insurance Company Limited

Its home office is in Mumbai, while it has various global branch offices in London, Dubai, Moscow, South Africa, and Kuala Lumpur.

Company Promotors: The President Of India, Acting Through The Ministry Of Finance

Objects of the Issue

Grey Market Price, Rates, GMP Premium

DateGMPKostak RateSauda
24 October 2017—-Rs.

-25 (Discount)

—-

General Insurance Corp of India (GIC Re) IPO, Price, Date, GMP, Grey Market, Subscription, Allotment, Listing Date

NameGeneral Insurance Corp of India (GIC Re)
Open Date11 October 2017
Close Date13 October 2017
Allotment Date21 October 2017
Refund Date21 October 2017
Listing Date25 October 2017
Issue PriceRs.

More From TOI

855 – Rs. 912 Per Equity Share

DiscountRs. 45 to the retail investors.
Lot Size16 Shares
Minimum Order Quantity16 Shares
Issue TypeBook Built Issue IPO
Issue Size124,700,000 Equity Shares of Rs 5 aggregating up to Rs.

Crores
››› Fresh Issue of 17,200,000 Equity Shares of Rs 5 aggregating up to Rs.

General insurance corporation of india ipo

Crores
››› Offer for Sale of 107,500,000 Equity Shares of Rs. 5 aggregating up to Rs.

Invest or not in bitcoin

Crores

Lead ManagerAxis Capital Limited, Citigroup Global Markets India Private Limited, Deutsche Equities India Private Limited, HSBC Securities & Capital Markets Pvt Ltd, Kotak Mahindra Capital Company Limited
RegistrarKarvy Computershare Private Limited
Registrar Email[email protected]
Registrar Websitehttp://www.karvycomputershare.com/
Registrar Phone+91 40 6716 2222
Listing atNSE / BSE
IPO Poll

GIC IPO Price Band

GIC has set a price range of Rs.

855- Rs. 912 per equity share.

IPO Issues Open Now

At the upper end of the price range, the GIC IPO would collect Rs. 11,370 crore. The government’s stake sale would be worth Rs. 9,920 crore, while the fresh issuance would be worth Rs 1,580 crore.

General insurance corporation of india ipo

The government will dilute around 14.2% stake.

Retail Investor Discount
As per the notification provided by the company, The investors belongs to the retail category will get Rs. 45 discount. The issue price for the retail investors will be Rs.

810 – Rs.

General insurance corporation of india ipo

867.

General Insurance Corp of India IPO Date

The Initial public offer of National reinsurer GIC Re will open from 11 October 2017 and the subscription will end on 13 October 2017. GIC Re HAD filed draft red herring prospectus (DRHP) for public listing with the capital markets regulator SEBI on August 07, 2017.

Financials

The net profit of the company was at Rs.

3,140.6 crores in FY17, up 11.2% over FY16.

GIC Re IPO (General Insurance Corporation of India IPO) Review

The company has earned a gross premium of Rs. 33,740.8 crore in FY17, up 82% over FY16. The amount of gross premium was Rs. 18,534 crore in FY16. The current net worth of the company is Rs. 49,550.8 crore as of March 2017 from Rs. 40,870.3 crore in the year-ago period.

Daily Subscription Figures

DATESHARES OFFERED11 October 201712 October 201713 October 2017
RII435945320.060.160.63
NII186833710.010.020.22
QIB622779001.551.682.25
Employees1441970.130.420.94
Total1247000000.800.901.38

Lead Managers

Axis Capital Limited, Citigroup Global Markets India Private Limited, Deutsche Equities India Private Limited, HSBC Securities & Capital Markets Pvt Ltd and Kotak Mahindra Capital Company Limited will manage the company’s public issue.

Registrar

The company has not yet decided the registrar to the issue.

We will update this segment as soon as we get information from GIC.

General Insurance Corp of India (GIC) IPO Allotment Status

As per the expectation, the GIC IPO Allotment will be completed on 18 October 2017. Investors need to check the registrar’s website for the allotment status. The GIC Re allotment status link will also be updated here for the readers.

GIC IPO Allotment Status

General Insurance Corporation Listing Date

Update: GIC Re will be listed on the National Stock Exchange (NSE) on 25 October 2017.

The listing date of GIC IPO will be 20 October 2017 to 23 October 2017.

Check this website for the GIC listing date.

Company Financials:

Check IPO Calander of this website regularly.

Listing Day Figures (25th October 2017)

 NSE (GICRE)BSE (540755)
IPO PriceRs.

912

Rs. 912
OpenRs. 850Rs.

Alteryx ipo roadshow presentation

850

HighRs. 899Rs. 895
LowRs. 780Rs. 780.25
CloseRs.

General Insurance Corporation of India (IPO)

874.30

Rs. 870.40
DifferenceDown Rs. -37.70 (-4.13%)Down Rs. -41.60 (-4.56%)

General Insurance Corpoeation of India (GIC Re) Address

Adress

Registered Office and Corporate Office: ‘Suraksha’ 170, J Tata Road,
Churchgate, Mumbai 400 020

Telephone: (91 22) 2286 7000
Fax: (91 22) 2288 4010
E-mail: [email protected]
Website: www.gicofindia.com

IPO Prospectus

Download DRHP with SEBI.

The Offer comprises of the Fresh Issue and the Offer for Sale.

Offer for Sale

  • General Insurance Corp of India will not receive any proceeds from the Offer for Sale.

Fresh Issue

  • Augmenting the capital base of the company to assist the growth of the business and to sustain present solvency levels.
  • General corporate purposes, as per the law.
Category: Latest IPOTags: GIC IPO, GIC Re IPO