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General Insurance Corporation of India

Description The entire general insurance business in India was nationalised by General Insurance Business (Nationalisation) Act, 1972 (GIBNA).The Government of India (GOI), through Nationalisation 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.GIC was formed for the purpose of superintending, controlling and carrying on the business of general insurance.As soon as GIC was formed, GOI transferred all the shares it held of the general insurance companies to GIC.Simultaneously, the nationalised undertakings were transferred to Indian insurance companies.After a process of mergers among Indian insurance companies, four companies were left as fully owned subsidiary companies of GICNational Insurance Company Limited.The New India Assurance Company Limited.The Oriental Insurance Company Limited.United India Insurance Company Limited.The next landmark happened on 19th April 2000, when the Insurance Regulatory and Development Authority Act, 1999 (IRDAA) came into force.This Act also introduced amendment to GIBNA and the Insurance Act, 1938. An amendment to GIBNA removed the exclusive privilege of GIC and its subsidiaries carrying on general insurance in India.In November 2000, GIC was renotified as the Indian Reinsurer and through administrative instruction, its supervisory role over the four subsidiaries was ended. More »

Address Suraksha 170 J Tata Road,Churchgate , Mumbai - Maharashtra , India. Pincode : 400020

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  • 2-10X Over Subscribed
  • ‹ 12x Heavily Subscribed

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Retail Subscritption Poll Results

Total Subscritption Poll Results

Number of Times Issue is Subscribed (BSE + NSE)

As on Date QIB NII RII EMP Total
13-Oct-2017 2.25 0.22 0.63 0.94 1.38
12-Oct-2017 1.68 0.02 0.16 0.42 0.90
11-Oct-2017 1.55 0.01 0.06 0.13 0.80

Issue Terms

Issue price / Floor Price (Rs) 855-912
Application per share (Rs) 912.00
Minimum investment amount (Rs) 14,592.00
Minimum bid (no of shares) 16
Maximum Shares for Retail 16

Issue Date and Size

Issue opens 11-Oct-17
Issue closes 13-Oct-17
Listing on BSE,NSE
Issue size (Rs cr) 10661.9 - 11372
Mkt cap at issue price (Rs cr) N.A.

Lead Managers & Registrar

Lead Manager E-mail
Axis Capital Ltd complaints@axiscap.in
Registrar Karvy Computershare Pvt Ltd
E-mail N.A.

Shares on Offer

Shares on Offer Lakhs
Total shares offered 124.00
Of above, offered to public N.A.
Post-issue shares N.A.
Post-issue promoters' holding(%) N.A.

Company Financials (Rs cr)

Financials Crore
No of months N.A.
Turnover N.A.
Net profit / (loss) N.A.
Borrowings N.A.

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