The General Insurance Corporation IPO date has been confirmed to have started on October 11, 2017 and ended on October 13, 2017. Read the post to learn about General Insurance Corporation IPO GMP.
General Insurance Corporation’s objective is to amass Rs 11,175.84 crore via an IPO. The IPO price band for General Insurance Corporation is established between ₹855 and ₹912 per share. Applications require a minimum of 16 shares as the lot size. Retail investors are required to put in a minimum investment of ₹14,592.
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Bidding Dates
October 11-13
Price Range
₹855 to ₹912 per share
Face Value
₹10 per share
GMP
₹310.85
General Insurance Corporation IPO GMP
The General Insurance Corporation Limited IPO GMP Today is ₹310.85.
IPO Overview
General Insurance Corporation’s IPO, valued at Rs 11,175.84 crore, is a book-built issuance. The General Insurance Corporation’s inaugural public offering (IPO) opened for bidding on October 11, 2017, and shut down on October 13, 2017. The General Insurance Corporation IPO’s allotment concluded on Wednesday, October 18, 2017. The BSE and NSE listed the shares on October 25, 2017. General Insurance Corporation’s IPO is priced at a range of ₹855 and ₹912. General Insurance Corporation Limited IPO GMP Today is ₹310.85. An application requires a minimum lot size of 16 shares. Retail investors must make a minimum investment of $14,592.
The issue includes a reservation of up to 144,197 shares for employees offered at a discount of Rs 45 to the issue price. Competitive Strengths
- Leader in Indian reinsurance industry with 44 years of experience
- International presence
- Diversified product portfolio and revenue streams
- Strong financial track record and a strong balance sheet
- Experienced management team
General Insurance Corporation IPO Details
| IPO Date | October 11, 2017 to October 13, 2017 |
| Listing Date | October 25, 2017 |
| Face Value | ₹5 per share |
| Price Band | ₹855 to ₹912 per share |
| Lot Size | 16 Shares |
| Total Issue Size | 124,700,000 shares (aggregating up to ₹11,175.84 Cr) |
| Fresh Issue | 17,200,000 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | 107,500,000 shares of ₹5 (aggregating up to ₹[.] Cr) |
| Retail Discount | Rs 45 per share |
| Employee Discount | Rs 45 per share |
| Issue Type | Book-Built Issue IPO |
| Listing At | BSE, NSE |
General Insurance Corporation Company Financials
| Particulars | For the year or 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 | |
General Insurance Corporation IPO Timeline
| IPO Open Date | Wednesday, October 11, 2017 |
| IPO Close Date | Friday, October 13, 2017 |
| Basis of Allotment | Wednesday, October 18, 2017 |
| Initiation of Refunds | Monday, October 23, 2017 |
| Credit of Shares to Demat | Tuesday, October 24, 2017 |
| Listing Date | Wednesday, October 25, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 13, 2017 |
Company Profile
The General Insurance Corporation of India, founded in 1972, has emerged as the top reinsurance firm in India, securing the highest gross premiums. They specialize in providing a variety of general insurance products, including property, energy, marine, engineering, miscellaneous, aviation-hull/spares-rotor wing, liability, aviation treaty hull, spares, and liability coverage. In addition to cargo and offshore energy insurance, they cover motor, life, agriculture, space, health, credit, and financial insurance. They provide Afro-Asian reinsurance solutions as well as reinsurance programmes in South East Asia, the Middle East,
and Africa. They expand their international operations through their headquarters 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.
Registrar Info
| Name | Kfin Technologies Limited |
| Phone number | 04067162222, 04079611000 |
| Email ID | gic.ipo@karvy.com |
| Website | kosmic.kfintech.com |
Contact Details
| Name | General Insurance Corporation of India |
| Phone number | + (91 22) 2286 7000 |
| Email ID | investors.gic@gicofindia.com |
| Website | gicofindia.com |
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.
