General Insurance Corporation Of India IPO
General Insurance Corporation Of India (GICRE) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 25 October 2017.
Issue details
Listing day
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 6,22,77,900 | 14,00,24,464 | 2.25x | |
| NII (HNI) total | 1,86,83,371 | 41,08,336 | 0.22x | |
| Retail | 4,35,94,532 | 2,75,94,768 | 0.63x | |
| Employees | 1,44,197 | 1,35,568 | 0.94x | |
| Total | 12,47,00,000 | 17,18,63,136 | 1.38x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 14% of all shares bid for were at the cut-off price.
After listing
| Time after listing | vs issue price ₹912 |
|---|---|
| 1 week | -7.0% |
| 1 month | -12.9% |
| 3 months | +1.3% |
| 6 months | -7.5% |
| 1 year | -16.9% |
NSE closing prices, adjusted for later splits and bonuses. How IPOs do after listing, in general.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to General Insurance Corporation Of India's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| ICICI Lombard General Insurance CompanySep 2017 | 8.17x | 0.83x | 1.23x | 2.98x | ₹5,701 Cr | -1.5% | +5.0% |
| Varun BeveragesOct 2016 | 4.94x | 0.42x | 0.82x | 1.86x | ₹1,112 Cr | -3.4% | +6.0% |
| Indian Energy ExchangeOct 2017 | 2.56x | 0.85x | 2.61x | 2.28x | ₹1,426 Cr | -9.1% | +0.6% |
| SBI Life Insurance CompanySep 2017 | 12.6x | 0.70x | 0.85x | 3.58x | ₹8,400 Cr | +5.0% | +5.7% |
| HealthCare Global EnterprisesMar 2016 | 2.36x | 0.43x | 0.83x | 1.56x | ₹650 Cr | -3.6% | -2.8% |
| Eris LifesciencesJun 2017 | 4.68x | 0.45x | 3.51x | 3.29x | ₹1,741 Cr | +1.3% | +4.2% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Citigroup Global Markets India | 35 | +14.2% | 63% |
| Axis Capital | 107 | +20.4% | 73% |
| Deutsche Equities India | — | — | — |
| HSBC Securities and Capital Markets (India) | 15 | +8.3% | 87% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
Offer documents (NSE)
Frequently asked
What is the General Insurance Corporation Of India IPO price band and lot size? ₹855–912 per share, with a lot of 16 shares, so the smallest retail bid is ₹14,592.
How many times has it been subscribed? 1.38x overall: QIB 2.25x, NII 0.22x, retail 0.63x, employees 0.94x.
How did it list? It opened at ₹850, -6.8% against the issue price of ₹912, and closed its first day -4.1%.
