The New India Assurance IPO date has been confirmed from November 1, 2017 and ended on November 3, 2017. Read the post to learn about New India Assurance IPO GMP.
New India Assurance is set to raise Rs 9,600.00 crores via its IPO offering. Investors can expect the New India Assurance IPO to be priced between ₹770 and ₹800 per share. Each application must consist of at least 18 shares. A minimum investment of ₹14,400 is necessary for retail investors.
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Bidding Dates
November 1-3
Price Range
₹770 to ₹800 per share
Face Value
₹10 per share
GMP
₹236.80
New India Assurance IPO GMP
The New India Assurance Limited IPO GMP Today is ₹236.80.
IPO Overview
The New India Assurance IPO seeks to raise Rs 9,600.00 crores through a book-building approach. It includes a 2.4 crore share fresh issue and a 9.6 crore share offer for sale. Bids for the New India Assurance IPO opened on November 1, 2017, and wrapped up on November 3, 2017. The New India Assurance IPO allotment reached its conclusion on Wednesday, November 8, 2017. Shares found their listing on the BSE and NSE on November 13, 2017. Investors can expect the New India Assurance IPO to be priced between ₹770 and ₹800 per share. New India Assurance Limited IPO GMP Today is ₹236.80. An application requires a minimum lot size of 18 Shares. Retail investors must make a minimum investment of $14,400.
New India Assurance is rated A-(Excellent) by AM Best Company since 2007 and have been rated AAA/Stable by CRISIL since 2014.
Competitive Strengths
- Market leadership and established brand for around 100 years.
- International operations since 1920. Presence in UK with a desk at Lloyds, London. Also have operations in Japan and Australia for over 50 years.
- Diversified product offering.
- Strong relationship with reputed reinsurers.
- Expansive multi-channel distribution network.
- Robust IT infrastructure
New India Assurance IPO Details
| IPO Date | November 1, 2017 to November 3, 2017 |
| Listing Date | November 13, 2017 |
| Face Value | ₹5 per share |
| Price Band | ₹770 to ₹800 per share |
| Lot Size | 18 Shares |
| Total Issue Size | 120,000,000 shares (aggregating up to ₹9,600.00 Cr) |
| Fresh Issue | 24,000,000 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | 96,000,000 shares of ₹5 (aggregating up to ₹[.] Cr) |
| Retail Discount | Rs 30 per share |
| Employee Discount | Rs 30 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
New India Assurance Company Financials
| Particulars | For the year/period ended (in Rs. million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | ||||
| Total Assets | 365,668.25 | 316,338.34 | 345,410.14 | |||
| Total Revenue | 205,536.23 | 176,727.27 | 157,110.83 | |||
| Profit After Tax | 8,398.60 | 9,303.54 | 13,773.23 | |||
New India Assurance IPO Timeline
| IPO Open Date | Wednesday, November 1, 2017 |
| IPO Close Date | Friday, November 3, 2017 |
| Basis of Allotment | Wednesday, November 8, 2017 |
| Initiation of Refunds | Thursday, November 9, 2017 |
| Credit of Shares to Demat | Friday, November 10, 2017 |
| Listing Date | Monday, November 13, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 3, 2017 |
Company Profile
The New India Assurance Co. Ltd (NIA) commenced its journey in Mumbai on July 23, 1919, cementing its position as India’s foremost and most extensive general insurance entity, with over a century of dedicated service. January 1, 1974 marked the nationalization of the enterprise by the GoI. Acting through the Ministry of Finance, the President of India serves as the promoter of the company, with full ownership of its pre-offer paid-up equity share capital. Fire insurance, marine insurance, motor insurance, crop insurance, health insurance, and other insurance products are all available from NIA. Except for crop insurance, NIA holds the market-
leading position in India’s general insurance industry. The company has established a multi-channel distribution network that comprises individual and corporate agents, brokers, bancassurance partners, and other intermediaries, as well as direct sales and online sales. Comprising 68,389 individual agents, 16 corporate agents, 25 banks, and a significant number of OEM and car dealers, the company’s distribution network is extensive.
Registrar Info
| Name | Link Intime India Private Ltd |
| Phone number | +91-22-4918 6270 |
| Email ID | [email protected] |
| Website | linkintime.co.in |
Contact Details
| Name | The New India Assurance Company Limited |
| Phone number | +91 22 2270 8263 |
| Email ID | [email protected] |
| Website | newindia.co.in |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
New India Assurance IPO FAQs
When New India Assurance IPO will open?
The New India Assurance IPO opens on November 1, 2017 and closes on November 3, 2017.
What is the lot size of New India Assurance IPO?
New India Assurance IPO lot size is 18 Shares, and the minimum amount required is ₹14,400.
When is New India Assurance IPO listing date?
The New India Assurance IPO listing date is on November 13, 2017.
