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.
With strict security arrangements in place, police barred non-essential personnel, including lawyers, from entering the complex. Sharif's daughter Maryam, after appearing before the NAB court on Monday, said that she was not afraid of getting arrested.
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.
In Massachusetts , insurers and advocates have worked on legislation that, if it becomes law, will serve as a work-around. And it would be nearly laughable if the implications for women's lives and health weren't so serious.
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.
I mean, I'll tell you, I think we spoke to him or offered him a role in Captain America: The First Avenger . Suffice to say, the actor goes full Goldblum in the upcoming film, and it's sure to be an absolute delight.
Western Digital data-centric solutions are marketed under the G-Technology, HGST, SanDisk, Tegile, Upthere and WD brands. HAMR requires a new substrate, new media materials, new head materials and a new manufacturing process.
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.
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.
While the Xbox One S doesn't do 4K gaming, it can stream 4K and HDR content, if that's all what you're interested in. Such a setup of premium gaming was so far typical to the PCs, but now consoles are also joining in.
Meanwhile, DJ Olu another friend of Davido that passed on recently is slated for burial on Thursday, October 12, 2017 . The police had on Wednesday said Tagbo died from suffocation and that Davido lied during questioning.
It is claimed she signed a non-disclosure agreement after filing the lawsuit after allegedly being paid $100,000 by Weinstein. Shortly after, Twitter suspended McGowan's account, who then took to Instagram to share how her voice was being silenced.
Bilic: Hart Is Not Appreciated Enough
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.
Which Insider sold 9538 Shares Of NVIDIA Corporation (NVDA)?
NVIDIA Corporation (NVDA ) has an Analysts' Mean Recommendation of 2.4. 78,832 were reported by Tekne Management Ltd Liability. The total amount of shares outstanding is 600.33 million, giving the company a market capitalization of about 113.42 billion.
High-scoring Devils pounce on Leafs
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.
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.
Juniper Networks, Inc. (JNPR) Updates Q3 Earnings Guidance
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.
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.