New India Assurance IPO
New India Assurance IPO — date, price band, lot size & details 2017
New India Assurance listed on 13 Nov 2017 at ₹750, 6.3% below the ₹800 issue price.
The New India Assurance Company was the largest general insurance company in India by net worth, gross direct premium, profit and branches in FY2017. Its total income was Rs 20,471.40 crore in FY2017.
Stock price
New India Assurance 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 01 Nov 2017
- Close 03 Nov 2017
- Allotment 08 Nov 2017
- Refund/credit 09 Nov 2017
- Listing 13 Nov 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 1 to 3 Nov, 2017 |
|---|---|
| Price Band | ₹770 – ₹800 |
| Face Value | ₹5 |
| Lot Size | 18 Shares |
| Issue Size | ₹9585.82 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 30.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,400 |
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 18 shares at the ₹800 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 18 | ₹14,400 |
| Retail (max) | 13 | 234 | ₹1,87,200 |
| S-HNI (min) | 14 | 252 | ₹2,01,600 |
| S-HNI (max) | 69 | 1,242 | ₹9,93,600 |
| B-HNI (min) | 70 | 1,260 | ₹10,08,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It was the largest general insurer in India by net worth, premium, profit and branches in FY2017.
- 02Total income rose from Rs 15,632.00 crore in FY2015 to Rs 20,471.40 crore in FY2017.
- 03Net worth rose from Rs 11,229.52 crore in FY2015 to Rs 12,657.39 crore on 30 June 2017.
- 04It operated in 28 countries outside India.
Risks · 5
- 01Profit after tax fell from Rs 1,374.26 crore in FY2015 to Rs 819.82 crore in FY2017.
- 02Public sector insurers face pricing pressure from private rivals; profit was Rs 499.41 crore in the June 2017 quarter.
- 03Large disasters and crop schemes can bring big claims; Rs 1,880.37 crore of the issue was for solvency.
- 04Rs 7,668.66 crore of the Rs 9,585.82 crore issue went to the government as offer for sale.
- 05The government held 100% before the issue and 85.44% after it, so it controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the New India Assurance offer document.
| Metric | 30 Jun 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Total Income | 5,571.53 | 20,471.40 | 17,585.78 | 15,632.00 |
| Profit After Tax | 499.41 | 819.82 | 934.60 | 1,374.26 |
| NET Worth | 12,657.39 | 12,086.49 | 11,564.61 | 11,229.52 |
| Reserves and Surplus | 12,625.13 | 12,107.83 | 11,800.39 | 11,029.52 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹1,893.39 Cr of the issue is earmarked to named objects.
About the company
According to CRISIL, it was the largest general insurance company in India by net worth, domestic gross direct premium, profit after tax and number of branches for FY2017.
As of 30 June 2017 it ran international business through branches, agency offices and representative offices across 28 countries.
The IPO was Rs 9,585.82 crore, with Rs 1,917.16 crore of fresh issue and Rs 7,668.66 crore of offer for sale by the Government of India, at Rs 800, the top of the Rs 770 to Rs 800 band. The fresh money was for future capital needs and to improve its solvency ratio.
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.
New India Assurance 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.
Axis Capital
255 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%).
Nomura Financial Advisory & Securities (India) Pvt. Ltd
37 issues handledBest listing: Happiest Minds Technologies (+110.8%). Weakest: Shriram Properties (-23.7%).
IDFC Bank Ltd
10 issues handledBest listing: Dixon Technologies (India) (+54.3%). Weakest: IRFC (-4.2%).
YES Bank Ltd
14 issues handledBest listing: CDSL (+67.8%). Weakest: Healthcare Global Enterprises (-3.6%).
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 New India Assurance?
The current Grey Market Premium is ₹0.
What is the New India Assurance IPO price band?
₹770 to ₹800, on a face value of ₹5.
When is the allotment?
The basis of allotment is 8 November 2017, with listing on 13 November 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private 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.
