General Insurance Corporation of India IPO

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State-owned reinsurance company General Insurance Corporation of India (GIC) on 7th August 2017,had filed DRHP for its initial public offering (IPO) .The IPO will see a total stake dilution of 14.22%. The IPO is likely to raise over Rs10,000 crores
General Insurance Corporation of India(Leading Government PSU)(incorporated in 1972) is the largest Re-insurance company in India . It 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.
The company takes up reinsurance business for its counter-parts in the Afro-Asian region ,in South East Asia, the Middle East and Africa. GIC has developed its overseas business through its office in Mumbai & branch offices in London, Dubai and Kuala Lumpur, a representative office in Moscow, a subsidiary in the United Kingdom which is a member of Lloyd’s of London and a subsidiary in South Africa.
Rs10,000-crore GIC IPO will be the second largest public offering in India. In 2010, state-owned company Coal India Ltd had set the record for India’s largest IPO, raising Rs15,200 crores.

General Insurance Corporation of India IPO Stock Quote & Charts

345.85

-1.57%

Check History
  • Open: 351.00
  • High - Low: 352.25 - 343.70
  • Previous Close: 351.35
  • Total Traded Volume: 17390
  • Updated On: 19-Jul-2018

Objects of the General Insurance Corporation of India IPO:

Corporation proposes to utilize the Net Proceeds from the Fresh Issue towards: (i) Augmenting the capital base of the Corporation to support the growth of their business and to maintain current solvency levels (ii) General corporate purposes.
DRHP of General Insurance Corporation of India IPO

General Insurance Corporation of India IPO Details:

Open Date: Oct 11 2017
Close Date: Oct 13 2017
Total Shares: 124,700,000
Face Value: ₹ 5 Per Equity Share
Issue Type: Book Built Issue IPO
Issue Size: 11,372.64 Cr.
Lot Size: 16 Shares
Issue Price: ₹ 855-912 Per Equity Share
Listing At: NSE,BSE
Listing Date: Oct 25 2017

Promoters And Management:

President of India

Financials of General Insurance Corporation of India IPO as per DRHP:

Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. million)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 485,269.54 406,375.76 430,986.15 332,005.86 281,390.59
Total Revenue 36,441.79 32,340.78 30,995.34 26,985.09 25,111.20
Profit After Tax 28,578.52 26,549.18 28,026.85 23,218.42 22,888.64

Lead Manager of General Insurance Corporation of India IPO:

  1. Axis Capital Limited
  2. Citigroup Global Markets India Private Limited
  3. Deutsche Equities India Private Limited
  4. HSBC Securities & Capital Markets Private Limited
  5. Kotak Mahindra Capital Company Limited

Registrar of General Insurance Corporation of India IPO:

  1. Karvy Computershare Private Limited

Company Address:

General Insurance Corporation of India ‘Suraksha’ 170, J Tata Road Churchgate, Mumbai 400 020 Phone: + (91 22) 2286 7000 Fax: + (91 22) 2288 4010 Email: investors.gic@gicofindia.com Website: www.gicofindia.com

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