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The New India Assurance Co Govt of India's Largest General Insurance Co launches its IPO
October 26, 2017, 10:57 am
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The leading Govt of India owned, The New India Assurance has announced the launch of their 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.

New India Assurance is the Largest General Insurance Co of India. It is the only direct Insurer with an International A- Excellent Rating from AM Best. Presently it is operating in over 28 countries including operations from Box at Lloyd. It's Solvency Margin is 2.27 which indicates its strong Financial Strength.

In Kuwait their operations have began in 1953,and they have tied up with leading business house of Kuwait, Behbehani Co. as their Agents.

Company claims that, it would be a great opportunity for investors to be part of a leading Govt of India General Insurance company. More specifically to the Retail Investors. More details can be obtained from Company's Website www.newindia.co.In, Lead Managers or Share Brokers.

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