GIC Re IPO
GIC Re IPO — date, price band, lot size & details 2017
GIC Re listed on 25 Oct 2017 at ₹850, 6.8% below the ₹912 issue price.
General Insurance Corporation of India (GIC Re) is the largest reinsurance company in India by gross premiums, covering property, energy, marine, aviation and other risks. Its profit after tax was Rs 2,857.85 crore in FY2017.
Stock price
GIC Re is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 11 Oct 2017
- Close 13 Oct 2017
- Allotment 18 Oct 2017
- Refund/credit 23 Oct 2017
- Listing 25 Oct 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 11 to 13 Oct, 2017 |
|---|---|
| Price Band | ₹855 – ₹912 |
| Face Value | ₹5 |
| Lot Size | 16 Shares |
| Issue Size | ₹11256.83 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 45.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,592 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 16 shares at the ₹912 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It was the largest reinsurer in India by gross premiums, with net worth of Rs 16,174.16 crore in FY2017.
- 02Profit after tax was Rs 2,857.85 crore in FY2017.
- 03Net worth rose from Rs 11,738.16 crore in FY2015 to Rs 17,991.67 crore on 30 June 2017.
- 04Rs 1,149.55 crore of the issue was for augmenting its capital base.
Risks · 5
- 01Profit after tax dipped from Rs 2,802.69 crore in FY2015 to Rs 2,654.92 crore in FY2016.
- 02Reinsurers face large losses from disasters and crop failures; profit was only Rs 395.91 crore in the June 2017 quarter.
- 03Its share of Indian reinsurance could fall as foreign reinsurers set up branches; it offered Rs 9,704.16 crore of shares in the OFS.
- 04Rs 9,704.16 crore of the Rs 11,256.83 crore issue went to the government as offer for sale.
- 05The government held 100% before the issue and 85.78% after it, so it controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the GIC Re offer document.
| Metric | 30 Jun 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Profit After Tax | 395.91 | 2,857.85 | 2,654.92 | 2,802.69 |
| NET Worth | 17,991.67 | 16,174.16 | 14,171.57 | 11,738.16 |
| Reserves and Surplus | 18,544.31 | 18,060.64 | 16,751.59 | 14,521.75 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹1,532.70 Cr of the issue is earmarked to named objects.
About the company
It reinsures property, energy, marine, engineering, aviation, liability and other general insurance risks.
It also offers cargo and other reinsurance covers to insurers in India and abroad.
The IPO was Rs 11,256.83 crore, with Rs 1,552.67 crore of fresh issue and Rs 9,704.16 crore of offer for sale by the Government of India, at Rs 912, the top of the Rs 855 to Rs 912 band. The fresh money was to augment its capital base.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
GIC Re IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
HSBC Securities & Capital Markets (India) Pvt. Ltd.
59 issues handledBest listing: Dishman Pharmaceuticals & Chemicals (+97.1%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Axis Capital
260 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Deutsche Equities India Pvt. Ltd
14 issues handledBest listing: Reliance Petroleum (+66.6%). Weakest: Adlabs Entertainment (-9.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of GIC Re?
The current Grey Market Premium is ₹0.
What is the GIC Re IPO price band?
₹855 to ₹912, on a face value of ₹5.
When is the allotment?
The basis of allotment is 18 October 2017, with listing on 25 October 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
