Incorporated in 1972, General Insurance Corporation of India is the largest reinsurance company in India in terms of gross premiums. They provides various general insurance products like property, energy, marine, engineering, miscellaneous, aviation-hull/spares-rotor wing, aviation-hull/spares-fixed wing, liability, aviation treaty–hull, spares and liability insurance products. They also offers cargo and offshore energy, motor, life, agriculture, space, health, credit and financial insurance.
General Insurance Corporation of India business lines:
- They offers reinsurance solutions for the Afro-Asian region and reinsurance programs in South East Asia, the Middle East and Africa.
- They develop their overseas business through their home office 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.
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Company 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
Company Promoters:
- The Promoter of the company is President of India, acting through the Ministry of Finance.
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Issue Detail:
- Issue Open: Oct 11 2017
- Issue Closes on: Oct 13 2017
- Issue Type: Book Built Issue IPO
- Issue Size: [.] Equity Shares of Rs 5 aggregating up to Rs 11,372.64 Cr
- Face Value: Rs 5 Per Equity Share
- Issue Price:855 - 912 Per Equity Share
- Market Lot: 16 Shares
- Minimum Order Quantity: 16 Shares
- Listing At: BSE, NSE
Tentative timetable in respect of the Offer:
- Bid/Offer Opens On: Oct 11 2017
- Bid/Offer Closes On: Oct 13 2017
- Finalisation of Basis of Allotment: On or about Oct 18 2017
- Initiation of refunds: On or about Oct 23 2017
- Credit of Equity Shares to demat accounts:On or about Oct 24 2017
- Commencement of trading of the Equity Shares on the Stock Exchanges: On or about Oct 25 2017
