General Insurance Corporation of India IPO snapshot


#1

The issue of General Insurance Corporation of India opens on October 11th and closes on October 13th. The company is offering shares of in the price band of Rs 855 to Rs 912 per share. A discount of Rs 45 will be applicable for retail investors. The issue comprises of a fresh issue of 17,200,000 equity shares aggregating to Rs 1,568.6 cr and an OFS of 107,500,000 equity shares aggregating to Rs 9,804.0 cr.

About General Insurance Corporation of India
General Insurance Corporation of India GIC is the largest reinsurance company in India in terms of gross premiums with a market share of 60%. GIC also has an international presence and engages in underwriting across 162 countries. GIC was ranked as the 12th largest global reinsurer in 2016.

GIC provides reinsurance reinsurance across key business lines including fire (property), marine, motor, engineering, agriculture, aviation/space, health, liability, credit & finance and life insurance.

GIC derives 60% of its business from private insurers and the rest from state own insurers. It offers reinsurance to all of non-life insurers in India and to a majority of the life insurance companies.

Business details
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Top 10 clients by gross premiums

Name of Company Gross Premiums (Rs million)
Agriculture Insurance Company of India Limited 41,455
National Insurance Company Limited 29,506
ICICI Lombard General Insurance Co. Limited 26,153
United India Insurance Company Limited 22,334
The New India Assurance Company Limited 17,780
HDFC ERGO General Insurance Company Limited 15,646
Reliance General Insurance Co Limited 12,081
The Oriental Insurance Company Limited 8,832
Iffco‐Tokio General Insurance Company Limited 8,358
Bajaj Allianz General Insurance Company Limited 7,907
Total 1,90,051

Share holding pattern

No of shares % No of shares(post IPO) %
86,00,00,000 100 75,25,00,000 86
12,47,00,000 14
86,00,00,000 100 87,72,00,000 100

Issue details
IPO size: Rs 11,372 cr crores at the upper price band
Face value: Rs 5
Retail portion: 35%
Lot size: 16 shares and in multiples thereafter
Maximum subscription amount: Rs.2,00,000
Listing on: both NSE and BSE

IPO schedule
Basis of allotment Oct 18
Unblocking of funds Oct 23
Credit to demat accounts Oct 24
Listing on stock exchanges Oct 25

To apply for an IPO follow these steps:


Keep track of all the upcoming IPOs here:

Allotment details can be checked here.


#2

Any idea on why there was poor response from Retail investors?


#3

I got full allotment 224 , can I go long term on GIC. any advice ?