Business description from prospectus – New India Assurance is the largest general insurance company in India in terms of net worth, domestic gross direct premium, profit after tax and number of branches as of and for the fiscal year ended March 31, 2017.
The company has been in operation for almost a century. In Fiscal 2017, it had the largest market share of gross direct premium among general insurers in India.
As of March 31, 2017, it had issued 27.10 million policies across all product segments, the highest among all general insurance companies in India. As of June 30, 2017, its operations were spread across 29 States and seven Union Territories in India and across 28 other countries globally through a number of international branches, agency offices and subsidiaries including a desk at Lloyd’s, London.
Its insurance products can be broadly categorized into the following product verticals: fire insurance; marine insurance, motor insurance, crop insurance, health insurance and other insurance products.
New India Assurance Ltd IPO - New India Assurance IPO date - New India Assurance IPO Details
In Fiscal 2017, its gross direct premium from fire, engineering, aviation, liability, marine, motor and health insurance represented a market share of 19.1%, 21.9%, 29.6%, 18.2%, 21.0%, 15.1% and 18.4%, respectively, of total gross direct premium in these segments in India, and it was the market leader in each such product segment.
Promoters of New India Assurance – The President of India
|New India Assurance IPO details|
|Subscription Dates||1 – 3 Nov 2017|
|Price Band||INR770 – 800 per share (retail discount – INR30 per share)|
|Fresh issue||24,000,000 shares (INR1,848 – 1,920 crore)|
|Offer For Sale||96,000,000 shares (INR7,392 – 7,680 crore)|
|Total IPO size||120,000,000 shares (INR9,240 – 9,600 crore)|
|Minimum bid (lot size)||18 shares|
|Face Value||INR5 per share|
|Listing On||NSE, BSE|
|New India Assurance’s financial performance (in INR crore)|
|Profit after tax||883.1||797.3||1,374.3||934.6||819.8||499.4|
The New India Assurance Company Limited
Mumbai 400 001, Maharashtra
Phone: +91 22 2270 8263
Fax: +91 22 2265 2811
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Earnings Per Share (EPS): INR10.72
Price/Earnings (P/E) ratio: 71.83 – 74.63
Return on Net Worth (RONW): 6.81%
Net Asset Value (NAV): INR157.46 per share
New India Assurance IPO Subscription Details
|Category||Shares offered||Subscription (no.|
of times, at 5 PM)
|Day 1||Day 2||Day 3|
New India Assurance IPO allotment status is now available on Link Intime’s website.
Click on this linkto get allotment status.
IPO Opening Date: 1 November 2017
IPO Closing Date: 3 November 2017
Finalisation of Basis of Allotment: 8 November 2017
Initiation of refunds: 9 November 2017
Transfer of shares to demat accounts: 10 November 2017
Listing Date: 13 November 2017
Listing Price on NSE: INR750 per share (down 2.6% from IPO price for retail investors)
Closing Price on NSE: INR727.1 per share (down 5.6% from IPO price for retail investors)