General Insurance Corporation (GIC) IPO Dates,History, Price Band, Market Lot Details-2017

Incorporated in 1972, General Insurance Corporation of India is the largest reinsurance company in India in terms of gross premiums. They provide 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 offer cargo and offshore energy, motor, life, agriculture, space, health, credit and financial insurance.

They offer 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 as President of India, acting through the Ministry of Finance.

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

The 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

Check Allotment Here:
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