General Insurance Corporation IPO vs Reliance Nippon Life IPO

Comparision between General Insurance Corporation IPO and Reliance Nippon Life IPO.

IPO Details

General Insurance Corporation IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Reliance Nippon Life IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	General Insurance Corporation IPO	Reliance Nippon Life IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Axis Capital Limited Citigroup Global Markets India Private Limited Deutsche Equities India Private Limited Hsbc Securities & Capital Markets Pvt Ltd Kotak Mahindra Capital Company Limited	Axis Capital Limited Clsa India Private Limited Edelweiss Financial Services Ltd Iifl Securities Ltd Jm Financial Limited Nomura Financial Advisory And Securities (India) Pvt Ltd SBI Capital Markets Limited Yes Bank Limited
Registrar	Kfin Technologies Limited	Kfin Technologies Limited
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of General Insurance Corporation IPO is up to ₹11,175.84 Cr whereas the issue size of the Reliance Nippon Life IPO is up to ₹1,542.24 Cr. The final issue price of General Insurance Corporation IPO is ₹912.00 per share and of Reliance Nippon Life IPO is ₹252.00 per share.

	General Insurance Corporation IPO	Reliance Nippon Life IPO
Face Value	₹5 per share	₹10 per share
Issue Price (Lower)	₹855.00 per share	₹247.00 per share
Issue Price (Upper)	₹912.00 per share	₹252.00 per share
Issue Price (Final)	₹912.00 per share	₹252.00 per share
Discount (Retail)	₹45.00 per share
Discount (Employee)	₹45.00 per share
Market Lot Size	16 shares	59 shares
Fresh Issue Size	1,72,00,000 shares	2,44,80,000 shares
Fresh Issue Size (Amount)
OFS Issue Size	10,75,00,000 shares	3,67,20,000 shares
OFS Issue Size (Amount)
Issue Size Total	12,47,00,000 shares	6,12,00,000 shares
Issue Size Total (Amount)	up to ₹11,175.84 Cr	up to ₹1,542.24 Cr

IPO Timetable

General Insurance Corporation IPO opens on Oct 11, 2017, while Reliance Nippon Life IPO opens on Oct 25, 2017. The closing date of General Insurance Corporation IPO and Reliance Nippon Life IPO is Oct 13, 2017, and Oct 27, 2017, respectively.

	General Insurance Corporation IPO	Reliance Nippon Life IPO
Anchor Bid Date
Issue Open	Oct 11, 2017	Oct 25, 2017
Issue Close	Oct 13, 2017	Oct 27, 2017
Basis Of Allotment (Tentative)	Oct 18, 2017	Nov 01, 2017
Initiation of Refunds (Tentative)	Oct 23, 2017	Nov 03, 2017
Credit of Share (Tentative)	Oct 24, 2017	Nov 03, 2017
Listing date (Tentative)	Oct 25, 2017	Nov 06, 2017
Anchor Lockin End date 1	Nov 17, 2017	Dec 01, 2017
Anchor Lockin End date 2	Jan 16, 2018	Jan 30, 2018

Financials

General Insurance Corporation IPO P/E ratio is , as compared to Reliance Nippon Life IPO P/E ratio of .

General Insurance Corporation IPO

Reliance Nippon Life IPO

Financial

Summary of financial Information (Consolidated)
Particulars	For the year/period ended (in Rs. million)
	31-Mar-17	31-Mar-16	31-Mar-15	31-Mar-14	31-Mar-13
Total Assets	485,269.54	406,375.76	430,986.15	332,005.86	281,390.59
Total Revenue	36,441.79	32,340.78	30,995.34	26,985.09	25,111.20
Profit After Tax	28,578.52	26,549.18	28,026.85	23,218.42	22,888.64

Summary of financial Information (Consolidated)
Particulars	For the year/period ended (in Rs. million)
	31-Mar-17	31-Mar-16	31-Mar-15	31-Mar-14	31-Mar-13
Total Assets	20,198.10	18,857.91	16,629.97	16,812.08	15,087.00
Total Revenue	14,004.38	12,710.70	9,301.15	7,840.26	7,126.74
Profit After Tax	4,055.70	3,901.24	3,495.94	3,023.01	1,989.60

Promoter Shareholding (Pre-Issue)

Promoter Shareholding (Post-Issue)

P/E Ratio

Market Cap

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the General Insurance Corporation IPO retail investors (RII) are offered 4,35,94,532 shares while in Reliance Nippon Life IPO retail investors are offered 4,35,94,532 shares. Qualified institutional buyers (QIB) are offered 6,22,77,900 shares in General Insurance Corporation IPO and 1,22,40,000 shares in Reliance Nippon Life IPO.

	General Insurance Corporation IPO	Reliance Nippon Life IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	6,22,77,900 shares	1,22,40,000 shares
NII	1,86,83,371 shares	91,80,000 shares
RII	4,35,94,532 shares	2,14,20,000 shares
Employee	1,44,197 shares
Others
Total	12,47,00,000 shares	4,28,40,000 shares

Bids Received (Subscription)

General Insurance Corporation IPO subscribed 1.38x in total, whereas Reliance Nippon Life IPO subscribed 81.54x.

	General Insurance Corporation IPO	Reliance Nippon Life IPO
QIB (times)	2.25x	118.40x
NII (times)	0.22x	209.44x
Big NII (times)
Small NII (times)
RII (times)	0.63x	5.65x
Employee (times)	0.94x
Other (times)
Total (times)	1.38x	81.54x

Compare with others

General Insurance Corporation IPO	Reliance Nippon Life IPO
HDFC Life IPO	Astron Paper IPO
Khadim India IPO	HDFC Life IPO
New India Assurance IPO	Khadim India IPO
Mahindra Logistics IPO	New India Assurance IPO
Reliance Nippon Life IPO	Mahindra Logistics IPO
Indian Energy Exchange IPO	General Insurance Corporation IPO
MAS Financial IPO	Indian Energy Exchange IPO
Godrej Agrovet IPO	MAS Financial IPO
ICICI Lombard IPO	Godrej Agrovet IPO
SBI Life Insurance IPO	ICICI Lombard IPO

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