Bookbuilding IPO | ₹11,257 Cr | Listed at BSE, NSE | Wed, Oct 11, 2017 - Fri, Oct 13, 2017
GIC IPO is a book build issue of ₹11,256.83 crores. The issue is a combination of fresh issue of 1.72 crore shares aggregating to ₹1,552.67 crores and offer for sale of 10.75 crore shares aggregating to ₹9,704.16 crores.
GIC IPO bidding started from Oct 11, 2017 and ended on Oct 13, 2017. The allotment for GIC IPO was finalized on Oct 18, 2017. The shares got listed on BSE, NSE on Oct 25, 2017.
GIC IPO price band is set at ₹912 per share. The lot size for an application is 16. The minimum amount of investment required by an retail is ₹14,592 (16 shares) (based on upper price). The lot size investment for sNII is 14 lots (224 shares), amounting to ₹2,04,288, and for bNII, it is 69 lots (1,104 shares), amounting to ₹10,06,848.
The issue includes a reservation of up to 1,34,717 shares for employees offered at a discount of ₹45.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to GIC IPO RHP for detailed Information.
IPO Open
Wed, Oct 11, 2017
IPO Close
Fri, Oct 13, 2017
Issue Price
₹912 per share
Market Cap (Pre-IPO)
₹80,000.64 Cr
| IPO Date | 11 to 13 Oct, 2017 |
| Listed on | Wed, Oct 25, 2017 |
| Face Value | ₹5 per share |
| Price Band | ₹855 to ₹912 |
| Issue Price | ₹912 per share |
| Lot Size | 16 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Retail Discount | Rs 45.00 per share |
| Employee Discount | ₹45.00 |
| Total Issue Size | 12,47,00,000 shares (agg. up to ₹11,257 Cr) |
| Fresh Issue | 1,72,00,000 shares (agg. up to ₹1,553 Cr) |
| Offer for Sale | 10,75,00,000 shares of ₹5 (agg. up to ₹9,704 Cr) |
| Share Holding Pre Issue | 86,00,00,000 shares |
| Share Holding Post Issue | 87,72,00,000 shares |
| BSE Script Code / NSE Symbol | 540755 / GICRE |
| ISIN | INE481Y01014 |
GIC IPO comprises a total issue size of 12,47,00,000 shares. The net offer to the public is 12,45,65,283 shares, after excluding 1,34,717 shares under a preferential allotment. Of the Net offer 6,22,82,640 (50.00%) are allocated to QIB, 1,86,84,793 (15.00%) allocated to NII 4,35,97,850 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 6,22,82,640 | 50.00% | 49.95% | NA |
| NII (HNI) Shares Offered | 1,86,84,793 | 15.00% | 14.98% | NA |
| Retail Shares Offered | 4,35,97,850 | 35.00% | 34.96% | 27,24,865 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,34,717 | 0.11% | NA | |
| Total Shares Offered | 12,47,00,000 | 100.00% | 100.00% | |
Investors can bid for a minimum of 16 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹14,592 |
| Retail (Max) | 13 | 208 | ₹1,89,696 |
| S-HNI (Min) | 14 | 224 | ₹2,04,288 |
| S-HNI (Max) | 68 | 1,088 | ₹9,92,256 |
| B-HNI (Min) | 69 | 1,104 | ₹10,06,848 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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.
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.
Competitive Strengths
1. Leader in Indian reinsurance industry with 44 years of experience
2. International presence
3. Diversified product portfolio and revenue streams
4. Strong financial track record and a strong balance sheet
5. Experienced management team
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augmenting the capital base | 1,149.55 |
| 2 | General corporate purposes | 383.15 |
The General Insurance Corporation IPO is subscribed 1.38 times on October 13, 2017 8:50:00 PM (Day 3). The public issue subscribed 0.63 times in the retail category, 2.25 times in the QIB category, and 0.22 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.25 | 6,22,77,900 | |
| NII | 0.22 | 1,86,83,371 | |
| Retail | 0.63 | 4,35,94,532 | |
| Employee | 0.94 | 1,44,197 | |
| Total | 1.38 | 12,47,00,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to BRLMs (including underwriting commission, brokerage and selling commission) | 13.00 |
| 2 | Commission and processing fees for SCSBs, brokerage, bidding charges and selling commission for Syndicate Member, Registered Brokers, RTAs and CDPs | 11.50 |
| 3 | Fees payable to the Registrar to the Offer | |
| 4 | Others: i. Other regulatory expenses ii. Advertising and marketing for the Offer iii. Fees payable to Legal Counsels iv. Miscellaneous | 39.00 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹912.00 | ₹912.00 |
| Open | ₹850.00 | ₹850.00 |
| Low | ₹780.25 | ₹780.00 |
| High | ₹895.00 | ₹899.00 |
| Last Trade | ₹870.40 | ₹874.30 |
Lead Manager Reports
GIC IPO is a main-board IPO of 12,47,00,000 equity shares of the face value of ₹5 aggregating up to ₹11,257 Crores. The issue is priced at ₹912 per share. The minimum order quantity is 16.
The IPO opens on Wed, Oct 11, 2017, and closes on Fri, Oct 13, 2017.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in GIC IPO using UPI as a payment gateway. Zerodha customers can apply in GIC IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in GIC IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The GIC IPO opens on Wed, Oct 11, 2017 and closes on Fri, Oct 13, 2017.
GIC IPO lot size is 16, and the minimum amount required for application is ₹14,592.
You can apply in GIC IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for GIC IPO will be done on Wednesday, October 18, 2017, and the allotted shares will be credited to your demat account by Tue, Oct 24, 2017. Check the GIC IPO allotment status.
The GIC IPO listing date is on Wed, Oct 25, 2017.
