IPO Review:General Insurance Corporation of India

General Insurance Corporation of India IPO (General Insurance Corporation IPO) Detail IPO Review, Date, Price

,

Oct 7, 2017  Suvankar Talukder      

   

They

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.

 offers reinsurance solutions for the Afro-Asian 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.

Competitive Strengths

1. Leader in Indian reinsurance industry with 44 years of experience
2. International presence
3. Diversified product portfolio and revenue streams
4. Strong financial track record and a strong balance sheet
5. Experienced management team

Company Promoters:

           The Promoter of the company is President of India, acting through the Ministry of Finance.

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: http://www.gicofindia.com

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

Objects of the Issue:

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

1. Offer for Sale

Corporation will not receive any proceeds from the Offer for Sale.

2. Fresh 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; and
(ii) General corporate purposes

Issue Detail:

 »»  Issue Open: Oct 11, 2017 - Oct 13, 2017 
  »»  Issue Type: Book Built Issue IPO 
  »»  Issue Size: 124,700,000 Equity Shares of Rs 5 aggregating up to Rs 11,372.64 Cr 
    ›  Fresh Issue of 17,200,000 Equity Shares of Rs 5 aggregating up to Rs [.] Cr 
    ›  Offer for Sale of 107,500,000 Equity Shares of Rs 5 aggregating up to Rs [.] Cr 
  »»  Face Value: Rs 5 Per Equity Share 
  »»  Issue Price: Rs 855 - Rs 912 Per Equity Share 
  »»  Market Lot: 16 Shares 
  »»  Minimum Order Quantity: 16 Shares 
  »»  Listing At: BSE, NSE

Tentative timetable in respect of the Offer:

• Bid/Offer Opens On: October 11, 2017
• Bid/Offer Closes On: October 13, 2017
• Finalisation of Basis of Allotment: On or about October 18, 2017
• Initiation of refunds: On or about October 23, 2017
• Credit of Equity Shares to demat accounts: On or about October 24, 2017
• Commencement of trading of the Equity Shares on the Stock Exchanges: On or about October 25, 2017

Join With Us witih us to enjoy Zero Brokerage on delivery click on the below links... http://bit.ly/2yCpzko