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New India Assurance Co-Govt of India's Largest General Insurance Co launches IPO
October 31, 2017, 1:14 pm
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New India Assurance is the Largest General Insurance Company of India, which started its operations in the year 1919, and has a proven track record of being the Market Leader for over many decades. It is the only Direct Insurance Company of India to have an International A- Excellent Rating from AM Best. Its Solvency Margin is 2.27 which indicate its strong Financial Strength. Presently it is operating in over 28 countries including operations from Box at Lloyd.

In Kuwait their operations have begun in 1953, and they have tied up with leading business house of Kuwait, Behbehani Co as their Agents. New India Assurance has announced the launch of its Initial Public Offering. Their Promoters being The President of India, Acting through the Ministry of Finance, Govt of India. The net offer is up to 116,400,000 Equity Shares.

The Price Band is Rs 770 to Rs 800 per Equity Share of face value of Rs 5 each. Retail Discount would be Rs 30 per Equity Share. The floor price is 154 times the face value of the Equity Shares, and the cap Price is 160 times the face value of the Equity Shares. Bid can be made for a minimum of 17 Equity Shares. Bid/ Offer opens on November 1, 2017 and Closes on 3 November, 2017. The Lead Managers for the offer are- Kotak Investment Banking, AXIS Capital, IDFC Bank, Nomura FA & Securities and YES Securities.

It would be a great opportunity for NRI investors to be part of a leading Govt of India General Insurance company. More specifically to the Retail Investors. NRIs of Kuwait can utilize this great opportunity to invest in Govt of India Organization, and get good returns for themselves or their family members. Indian Residents of Kuwait and their relatives in India can apply through their Demat Accounts through their Share Brokers.

They can also apply online through their Online Bank Accounts by registering their Demat account under ASBA services to apply for the IPO Online which is available with major banks. For opening of New Demat Accounts and queries related to the IPO you may contact BBK Geojit Securities KSC, Kuwait, Phone: 2246 7564, 69611492. More details about the Company can be obtained from Company's Website www.newindia.co.In, Lead Managers or Share Brokers. For any further details on IPO, you can also contact The New India Assurance, Kuwait- 6658 9859.

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