COMPANY BACKGROUND

General Insurance Corporation of India; one of the largest reinsurance company in India in terms of gross premiums accepted in Fiscal 2017, and it has accounted for approximately 60% of the premiums ceded by Indian insurers to reinsurers during Fiscal 2017, according to CRISIL Research.

The Company is also an international reinsurer that underwrote business from 161 countries as at June 30, 2017. According to CRISIL Research, it ranked as the 12th largest global reinsurer in 2016 and the 3rd largest Asian reinsurer in 2015, in terms of gross premiums accepted. It provides reinsurance across many key business lines including fire (property), marine, motor, engineering, agriculture, aviation/space, health, liability, credit and financial and life insurance. Through its more than 44 years of experience in, and commitment to, providing reinsurance products and services, it believes that it has become a trusted brand to its insurance and reinsurance customers in India and overseas.

The Company has diversified its business geographically to grow its underwriting business and profitability as well as to maintain a balanced portfolio of risks. It develops overseas business through its home office in Mumbai, branch offices in London, Dubai and Kuala Lumpur, a representative office in Moscow, a subsidiary in the United Kingdom that is a member of Lloyd’s of London and a subsidiary in South Africa.

 

Issue Highlights

Issue Opens

Wednesday, October 11, 2017

Issue Opens

Friday, October 13, 2017

Price Band

Rs. 855/‐ to Rs. 912/‐

Offer Size

12,47,00,000 Equity shares
Fresh Issue: 1,72,00,000 Equity shares
Offer for sale: 10,75,00,000 Equity shares

Bid Lot

16 Equity Shares & in
multiples there afterRs.

Face Value

5/- per share

Listing

NSE / BSE

BRLM

Citigroup/ Axis/ Deutsche/ HSBC/Kotak

Registrar

Karvy Computershare Private Limited

Payment

Compulsorily ASBA Mode

*Discount of Rs. 45/‐ to Retail Bidders and Employees

Issue Break up

Issue Size Issue Size Allocation Issue Size Lower Band (Rs. in Crs) Issue Size Upper Band (Rs. in Crs)
Employee   10.9 11.7
QIB 50.00% 5325.2 5680.2
NIB 15% 1597.5 1704.1
Retail 35.00% 3531.4 3779.9
Total 100.00% 10465 11175.9

 

Object of the Issue

The Offer comprises of the Fresh Issue and the Offer for Sale.

The Allotment of Equity Shares to Eligible Employees under the Employees Reservation Portion would not result in an increase, directly or
indirectly, in the shareholding of its Promoter.

Offer for Sale
The Corporation will not receive any proceeds from the Offer for Sale.

Fresh Issue
The Corporation proposes to utilize the Net Proceeds from the Fresh Issue towards:
i) Augmenting the capital base of its Corporation to support the growth of business and to maintain current solvency levels;
and
(ii) General corporate purposes, subject to applicable

Retail Payment Chart - General Insurance Corporation Of India

No. of Shares Cut off price per share Rs.867 Total Amount (Rs.)
16 867 13872
32 867 27,744
48 867 41,616
64 867 55,488
80 867 69360
96 867 83,232
112 867 97,104
128 867 1,10,976
144 867 1,24,848
160 867 1,38,720
176 867 1,52,592
192 867 1,66,464
208 867 1,80,336
224 867 1,94,208