General Insurance Corporation of India IPO

Apply 0
Avoid 0

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

697.50

-0.92%

  • Open: 702.00
  • High - Low: 706.35 - 695.00
  • Previous Close: 704.00
  • Total Traded Volume: 21021
  • Updated On: 21-May-2018

Objects of the Issue:

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.

Listing Date: Oct 25 2017

Issue 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

Company Financials:

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

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