General Insurance Corporation of India IPO Issue, Allotment, Listing, GMP

General Insurance Corporation of India IPO

The General Insurance business in India was nationalized by the Government of India (GOI) through the General Insurance Business (Nationalization) Act (GIBNA) of 1972. 55 Indian insurance companies and 52 other general insurance operations of other companies were nationalized.

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.

We are Recommended to Subscribe General Insurance Corporation of India IPO Issue
General Insurance Corporation Of India IPO details
Subscription Dates 11 Oct to 13 Oct 2017
Issue Price Rs. 855 – 912 Per Equity Share
Fresh issue 17,200,000 Equity Shares
Offer For Sale 107,500,000 Equity Shares
Total IPO Size INR 11,372.64 Crore (approx)
Minimum Lot Size (Bid) 16 Shares
Face Value Rs 10 Per Equity Share
Listing on BSE and NSE
Retail Allocation 35%

Book Running Lead Managers

  • Citigroup Global Markets India Private Limited
  • Axis Capital Limited
  • Deutsche Equities India Private Limited
  • HSBC Securities and Capital Markets (India) Private Limited
  • Kotak Mahindra Capital Company Limited
General Insurance Corporation Of India IPO Allotment and Listing details
Allotment Date 18 Oct 2017
Refund Date 23 Oct 2017
Demat Account Credit Date 24 Oct 2017
Listing Date: 25 Oct 2017
Check Allotment Status: Click here..

Objects of the General Insurance Corporation Of India IPO Issue

  • General corporate purposes and
  • Augmenting the capital base of the Corporation to support the growth of their business and to maintain current solvency levels

Company Contact Information

General Insurance Corporation of India
‘Suraksha’ 170, J Tata Road,
Mumbai 400 020
Phone: + (91 22) 2286 7000
Fax: + (91 22) 2288 4010

General Insurance Corporation IPO Registrar

Karvy Computershare Private Limited
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India
Phone: +91-40-23312454
Fax: +91-40-23311968

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