GIC Re IPO subscribed 81% so far on second day

13 October, 2017, 11:35 | Author: Regina Silva
  • GIC Re IPO Third Largest Offer Opens Today Should you Invest

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.

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.


Tyler Eifert Reportedly Considering Surgery on Back Injury That Would End Season
Robert Watkins in Los Angeles to determine if he should have micro-disk surgery, which will sideline him for four to six months. Cincinnati Bengals tight end Tyler Eifert is scheduled to undergo back surgery on Thursday, reports ESPN's Adam Schefter .


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.


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.

Recommended:

  • Long Term Growth review of Cytori Therapeutics Inc (NASDAQ:CYTX)

    Whereas, in last 21 trading days (one month) was climbed 54.15% and plunged in last 63 trading days (quarter) of -51.73%. Cytori Therapeutics Inc ( CYTX ) now the company's industry has 12.57 P/E and the sector P/E is 16.5.
    Microsoft Edge on Android arrives: Here's how to get it

    Microsoft Edge on Android arrives: Here's how to get it

    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 .
    Sector Active Movers- Starbucks Corporation (NASDAQ:SBUX), QIAGEN NV (NYSE:QGEN)

    Sector Active Movers- Starbucks Corporation (NASDAQ:SBUX), QIAGEN NV (NYSE:QGEN)

    The fund owned 447,672 shares of the coffee company's stock after buying an additional 28,979 shares during the quarter. Narrowing in a bit closer, the 5 month price index is 0.91352, the 3 month is 0.95866, and the 1 month is now 1.03141.
  • Sabarimala temple case: SC refers matter to Constitution bench

    Sabarimala temple case: SC refers matter to Constitution bench

    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.
    Osinbajo, Not Buhari Approved N648bn NNPC Contracts - Presidency

    Osinbajo, Not Buhari Approved N648bn NNPC Contracts - Presidency

    He said that the presidential approvals were specifically for financing joint ventures, and they were loans not contracts. Simbi Wakote, for promoting and enforcing Nigerian content in the oil and gas sector.

    Manulife Financial Corporation (MFC) stock is Likely to be considered risky?

    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.
  • Bruce Arena Has No Interest in Overseeing Another World Cup Cycle

    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.
    Which Insider sold 9538 Shares Of NVIDIA Corporation (NVDA)?

    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.

    Jeff Goldblum was nearly in a different Marvel movie before Thor: Ragnarok

    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.
  • Rishard Matthews tweets he's done if NFL makes national anthem rule

    Rishard Matthews tweets he's done if NFL makes national anthem rule

    Matthews announced September 28 he was donating $75,000 to a group of "organizations working in oppressed communities". Rather than directing anger to the fact that protests still are happening, think of why they're still happening.

    Evaluating Insider Trading And Ownership For Enbridge Energy Partners, LP (EEP)

    The firm has "Sell" rating given on Wednesday, July 20 by Goldman Sachs. ( NASDAQ:AAPL ), 36 have Buy rating, 1 Sell and 10 Hold. The institutional investor owned 277,400 shares of the pipeline company's stock after selling 12,400 shares during the period.
    Robert Pattinson Has Reportedly Broken Up With Fiancée FKA Twigs

    Robert Pattinson Has Reportedly Broken Up With Fiancée FKA Twigs

    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 .


Popular

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.

Local Groups React To Boy Scouts' Decision To Integrate Girls
The Boy Scouts of America say girls will be allowed to join another program allowing them to earn the Eagle Scout rank in 2019. The Girl Scouts learned back in January that the Boy Scouts were considering opening their ranks to girls, Margosian said.

Tom Brady, Rob Gronkowski Officially Return To Patriots Practice
The 33 hits are tied for 7th most in the NFL , while the 16 sacks are eighth most in the league. After the hit in Tampa, Brady stayed down for a bit, wincing in pain.

Indictment of Sharif family in NAB references delayed due to lawyers protest
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.

What Are Analysts Suggestions On Chesapeake Energy Corporation (CHK)
Now we see the performance from the period beginning the first day of the current calendar or fiscal year up to the current date. In the most updated research from a number of analysts on Wall Street, the company gets 5 Buys and 6 Sell among 30 analysts.

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.

Cash equities, underwriting help Citi to Q3 earnings beat
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.

Oklahoma State gets subpoena for basketball records, conversations
The information seeks information from cellphones, tablets, laptops, desktop computers, phones, emails and social media accounts. The university confirmed that in a statement Thursday in response to an open records request from The Associated Press.

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.

Raymond James Financial Services Advisors Inc. Increases Position in MetLife, Inc. (MET)
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.