IPO Synopsis
| General Insurance Corporation of India |
|---|
| Registered Office: Suraksha 170 J Tata Road,Churchgate,Mumbai-400020, Maharashtra |
| Tel. No: 91-22-22867000 |
| Fax No: 91-22-22884010 |
| Email: investors.gic@gicofindia.com |
| Website: www.gicre.in |
| Initial public offer of 124,700,000* equity shares of face value of Rs. 5 each ("equity shares") of General Insurance Corporation of India ("Corporation") for cash at a price of Rs. 912 per equity share aggregating to Rs. 11175.84* crores ("Offer") comprising a fresh issue of 17,200,000* Equity shares aggregating to Rs. 1541.50* crores by the corporation ("fresh issue") and an offer for sale of 107,500,000* equity shares by the Promoter (the "selling shareholder") aggregating to Rs. 9634.35* crores ("offer for sale"). The offer included a reservation of 134,717* equity Shares aggregating to Rs. 11.68 Crores * for subscription by eligible employees (as defined in "definitions and abbreviations") (the "employee Reservation portion"). The offer would constitute 14.22 % of the post-offer paid-up equity share capital and the net offer shall constitute 14.20 % of the post-offer paid-up equity share capital. The face value of the equity shares is Rs. 5 each. The offer price is Rs. 912 per equity share and is 182.4 times the face value of equity shares. *subject to finalisation of the basis of allotment. *A discount of Rs. 45 on the offer price was offered to retail individual bidders ("retail discount") and to eligible employees (defined below) bidding in the employee reservation portion)("employee Discount") |
| Issue | Money Payable On | ||
|---|---|---|---|
| Opens On | Closes On | Application | |
| 11-Oct-2017 | 13-Oct-2017 | ₹912.00 - 0.00 | |
| Minimum Application for shares in Nos : 16.0 | Further Multiples of :16.0 |
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| (₹ Cr) | Lead Managers to the Issue | |
|---|---|---|
| Project Cost | 1,541.50 | Axis Capital Ltd |
| Project Financed through Current Offer | 11,175.84 | Citigroup Global Markets India Pvt Ltd |
| Post Issue Equity Share Capital | 438.60 | Deutsche Equities India Pvt Ltd |
| Issue Price | 912.00 | HSBC Securities & Capital Markets (India) Pvt Ltd |
| Projects |
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| Augmenting the capital base of the corporation to support the growth of the business and to maintain current solvency levels |
| General corporate purposes |
| Promoted By |
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| President of India |
| Listing At |
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| BSE |
| NSE |
| Registrar To The Issue |
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