Business Standard

General Insurance Corporation of India - IPO

Issue Type

Book Building

Issue Size (₹ Cr.)

11,175.80 cr

Price Range (₹)

912

Lot Size

16

Min Investment (₹)

14,592.00

Listing Exchange

MumbaiNSE

Open Date

11-Oct-2017

Close Date

13-Oct-2017

Listing Date

25-Oct-2017

General Insurance Corporation of India News

    The Shares of General Insurance Corporation of India have now been listed.

    General Insurance Corporation of India IPO Details

    Initial public offer of 124,700,000* equity shares of face value of Rs. 5 each (equity shares) of General Insurance Corporation of India(Corporation) for cash at a price of Rs. 912 per equity share aggregating to Rs. 11175.84* crores (Offer) comprising a fresh issue of 17,200,000*Equity shares aggregating to Rs. 1541.50* crores by the corporation (fresh issue) and an offer for sale of 107,500,000* equity shares by thePromoter (the selling shareholder) aggregating to Rs. 9634.35* crores (offer for sale). The offer included a reservation of 134,717* equityShares aggregating to Rs. 11.68 Crores * for subscription by eligible employees (as defined in definitions and abbreviations) (the employeeReservation portion). The offer would constitute 14.22 % of the post-offer paid-up equity share capital and the net offer shall constitute14.20 % of the post-offer paid-up equity share capital.The face value of the equity shares is Rs. 5 each. The offer price is Rs. 912 per equity share and is 182.4 times the face value of equity shares.*subject to finalisation of the basis of allotment.*A discount of Rs. 45 on the offer price was offered to retail individual bidders (retail discount) and to eligible employees (defined below) bidding in the employee reservation portion)(employeeDiscount)

    Objective of issue

    Augmenting the capital base of the corporation to support the growth of the business and to maintain current solvency levels. General corporate purposes.

    General Insurance Corporation of India Contact Details

    General Insurance Corporation of India, Karvy Selenium Tow-B, 31&32 Financial Dist, Nanakramguda, Hyderabad-500032

    Phone - 91-40-67162222

    Fax - 91-40-23001153/23420814

    Email - investors.gic@gicofindia.com

    Website - www.gicre.in