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GENERAL INSURANCE CORPORATION OF INDIA IPO

Subscription starting from Oct 11, 2017 to Oct 13, 2017

5 (100%) 4 votes

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The entire general insurance business in India was nationalized by General Insurance Business (Nationalization) Act, 1972 (GIBNA). The Government of India (GOI), through Nationalization took over the shares of 55 Indian insurance companies and the undertakings of 52 insurers carrying on general insurance business.

General Insurance Corporation of India (GIC) was formed in pursuance of Section 9(1) of GIBNA. It was incorporated on 22 November 1972 under the Companies Act, 1956 as a private company limited by shares.

Lead my GIC Corp now lead by Mrs Alice G Vaidyan and declared entry to trade market with IPO details listed below:

GIC – IPO HIGHLIGHTS:

ESTABLISHED 1972
SECTOR Insurance
OPERATION Nationally across India and as well abroad
GLOBAL PRESENCE: The Middle East and Africa, South East Asia and Afro-Asian region. MAJOR BRANCHES: London, Dubai and Kuala Lumpur
SERVICES AVAILABLE Insurers in property, energy, marine, engineering, miscellaneous, aviation-hull/spares-rotor wing, aviation-hull/spares-fixed wing, liability, aviation treaty–hull, spares and liability insurance products and more
TOTAL ASSETS in Million INR 485,269.54 Million
TOTAL REVENUE INR 36,441.79 Million
NET PROFIT AS ON 2017 INR 28,578.52 Million
IPO OFFER PRICE INR 855 – INR 912 Per Equity Share
FRESH ISSUE INR 17,200,000  Equity Share of Rs 5 aggregating
OFFER FOR SALE INR 107,500,000 Equity Share of Rs 5 aggregating
TOTAL IPO SIZE INR 11,372.64 crore
LOT SIZE 16 shares
FACE VALUE INR 5 per share
LISTING ON NSE & BSE
LISTING DATE 11th Oct 2017 to 13th Oct 2017
ALLOTMENT ON 18th OCT 2017
CREDIT OF EQUITY SHARES 24th Oct 2017
STOCK EXCHANGE TRADING AVAILABILITY 25th Oct 2017
REG 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
WEB http://www.gicofindia.com

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