General Insurance Corporation of India IPO Message Board (Page 75)

Has 5% discount for RII.

Price band can be between 920 - 930 Rs

Gic ipo - size Rs. 11,300 crores. Indicative Dates 11.10.2017 - 13.10.2017

*GIC Re''s Rs 11,500 cr IPO to hit markets next week*

???? General Insurance Corporation of India (GIC Re), a government-owned general reinsurer, will launch its Rs 11,500 crore initial public offering (IPO) next week, said people with the direct knowledge of the development.

???? The offering will be biggest since Coal India’s Rs 15,200-crore IPO in October 2010. 

???? It will also be the third-largest IPO in the history of domestic market. GIC Re’s comes close on heels of two successful big-ticket IPOs from the insurance sector. Last month, IPOs of SBI Life Insurance Company and ICICI Lombard had raised Rs 8,400 crore and Rs 5,700 crore respectively. Both the offerings had seen healthy demand from institutional investors.

???? GIC Re’s IPO is part of the government’s 2017-18 disinvestment programme. So far this fiscal, the centre has raised close to Rs 15,000 crore as against targeted Rs 72,500 crore. The success of GIC Re''s offering will give a boost to the disinvestment kitty.

???? The centre is also looking to list four other non-life insurance companies which include New India Assurance, National Insurance, Oriental Insurance, and United India Insurance. Investment banking sources say New India Assurance is next in line to hit the market.

???? Citigroup, Axis Capital, Deutsche, HSBC and Kotak Mahindra Capital are the investment banks handling the GIC Re IPO.