The offer, which will raise nearly Rs. 12,000 crore, will close for subscription on Friday.
India's largest general insurance and reinsurance company GIC RE today hit the market with an issue size of between Rs 10,661 crore to Rs 11,372 crore that has a mix of fresh issuance of 1.72 crore shares and offer for sale of 10.75 crore shares which would dilute government's share in the company close to 15 per cent.
GIC's IPO is a part of the Union government's disinvestment plan, under which the Department of Investment and Public Asset Management (DIPAM) plans to sell government's stakes in several central public sector enterprises through various routes such as IPOs and offers for sale. Retail investors will get a discount of Rs 45 per share. GIC Re's IPO could fetch about '9,804 to the government and remaining Rs 1,568.64 crore to GIC Re. The company has set a price band of Rs 855- 912 per share for its IPO and when calculated at the upper band of the issue price the company will be valued at around Rs 80,000 crore. GIC also underwrote business from 161 countries end June 2017 and was ranked 12th largest global reinsurer in the calendar year (CY) 2016 and the third largest Asian reinsurer in CY 2015 by gross premiums accepted. These include SBI Life Insurance Co, ICICI Lombard General Insurance, New India Assurance, HDFC Standard Life Insurance Co, and Reliance General Insurance Co.
Axis Capital, Citigroup, Deutsche India, HSBC Securities and Kotak Capital are the book running lead managers to the offer.The shares of General Insurance Corporation of India are proposed to be listed on the National Stock Exchange of India and the BSE.
The initial public offering (IPO) of Music Broadcast Ltd, which runs FM radio.
It's over! Robert Pattinson and FKA Twigs have reportedly called it quits after three years together. In the past few months, there seemed to be water in the gas between Robert Pattinson and FKA Twigs .
In related news, CEO Rami Rahim sold 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 30th. Juniper cut its per-share adjusted profit expectations to $0.54-$0.56, compared with previous guidance of $0.55-$0.61 a share.
The financial services provider reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.02. The total amount of shares outstanding is 1.06 billion, giving the company a market capitalization of about 56.32 billion.
What that means again is that you might come across bugs and instability that could affect its performance. The browser is still unstable and in testing phase but Android users can now download it from Play Store .
Josh Boone is a massive comic book fan, and he grew up loving Claremont and Sienkiewicz's New Mutants run. Cecilia Reyes (Alice Braga ). "We're trying to do something very , very different", Josh told EW .
While Citi's trading desks focus heavily on bond and currency trading, it was the bank's other trading desks that stood out. Trading revenue during the fourth quarter of 2016 benefited from a surge in trading activity following the USA election.
Since 2011, the United States has missed the U17 World Cup, the U20 World Cup, two Olympics, and now a senior World Cup. And Arena, who took over the reins of the national team for the second time in his career last November after U.S.
Outside of the opening three minutes, the first period belonged to the Blackhawks, and they went into the intermission up 2-0. Nazem Kadri has two power-play goals this season and recorded four points in three encounters in 2016-17 against the Devils.
It clocks in at a couple of hours and you can enjoy it without having played through the original Life is unusual . The trailer shows Chloe becoming more rebellious as David becomes more a part of her family life.
So Women should be permitted inside the Sabarimala temple. "I am sure the judgement will also be very positive and landmark". Meanwhile, women's rights activists are hoping for a positive judgment today.
Calls for the 30-year-old to be dropped as England's number one goalkeeper has grown louder and louder in recent times. They are playing well at the moment and I think that the home crowd will get them over the line against the Hammers.
To measure price-variation, we found CVX's volatility during a week at 1.03% and during a month it has been found around 1.04%. After $2.64 actual EPS reported by Cooper Companies Inc for the previous quarter, Wall Street now forecasts 0.38% EPS growth.
China exports up 9%, for 7th month of growth
Analysts polled by Reuters expected an 8.8 percent rise in Chinese exports in September from a year ago in dollar terms. The country's trade surplus last month narrowed to 193 billion yuan ($29.3 billion) from 286.49 billion yuan in August.
Whiting Petroleum Corp. (WLL) - Technical Watch
Chicago Equity Partners LLC bought a new position in Whiting Petroleum Corporation in the 2nd quarter worth $102,000. Gotham Asset Management LLC boosted its holdings in Whiting Petroleum Corporation by 22.8% in the 1st quarter.
UAE Stops Issuing Visas for North Korean Laborers
The UAE announced it will terminate the missions of North Korea's non-resident ambassador and its own envoy to Pyongyang. A growing number of countries have also expelled North Korean diplomats and scaled back economic ties.
Ford Motor Company (F) EPS Estimated At $0.31
FNY Managed Accounts LLC acquired a new stake in shares of General Motors in the 1st quarter valued at approximately $107,000. The Cornerstone Capital Management Holdings Llc holds 815,802 shares with $9.13M value, down from 1.07 million last quarter.