General Insurance Corporation of India IPO Details – Date, Company Profile, Allotment, Listing

General Insurance Corporation of India IPO Details – Date, Company Profile, Allotment, Listing

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General Insurance Corporation of India

Issue Period – 11 OCT – 13 OCT, 2017              Issue Size – 124,700,000 Eq Shares (Rs. 11373 cr)

Issue Price – Rs.855 – Rs.912 per Eq Share     Market Lot – 16 Equity Shares

Face Value – Rs 5 per Eq Share                          Listing at – BSE, NSE

COMPANY PROFILE

Incorporated in 1972, General Insurance Corporation of India is the largest reinsurance company in India in terms of gross premiums. They provides various general insurance products like property, energy, marine, engineering, miscellaneous, aviation-hull/spares-rotor wing, aviation-hull/spares-fixed wing, liability, aviation treaty–hull, spares and liability insurance products. They also offers cargo and
offshore energy, motor, life, agriculture, space, health, credit and financial insurance. They offers reinsurance solutions for the AfroAsian region and reinsurance programs in South East Asia, the Middle East and Africa. They develop their overseas business through their home office in Mumbai, branch offices in London, Dubai and Kuala Lumpur, a representative office in Moscow, a subsidiary in the
United Kingdom that is a member of Lloyd’s of London and a subsidiary in South Africa.

THE OBJECT OF THE ISSUE

(i) Augmenting the capital base of the Corporation to support the growth of their business and to maintain current solvency levels; and
(ii) General corporate purposes

OUR RECOMMENDATION

QIB (more than Rs/- 200,000/-)                                 50% of Net Issue size

Non-Institutional (more than Rs/-200,000/-)         15% of Net Issue size

Retail (up to Rs/-200,000/-)                                         35% of Net Issue size

 

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