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New India Assurance IPO is a book built issue of Rs 9,600.00 crores. The issue is a combination of fresh issue of 2.4 crore shares and offer for sale of 9.6 crore shares.
New India Assurance IPO bidding started from November 1, 2017 and ended on November 3, 2017. The allotment for New India Assurance IPO was finalized on Wednesday, November 8, 2017. The shares got listed on BSE, NSE on November 13, 2017.
New India Assurance IPO price band is set at ₹770 to ₹800 per share. The minimum lot size for an application is 18 Shares. The minimum amount of investment required by retail investors is ₹14,400.
The issue includes a reservation of up to 3,600,000 shares for employees offered at a discount of Rs 30 to the issue price.
Axis Bank Limited, Idfc Bank Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd and Yes Bank Limited are the book running lead managers of the New India Assurance IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to New India Assurance IPO RHP for detailed information.
| IPO Date | November 1, 2017 to November 3, 2017 |
| Listing Date | November 13, 2017 |
| Face Value | ₹5 per share |
| Price Band | ₹770 to ₹800 per share |
| Lot Size | 18 Shares |
| Total Issue Size | 120,000,000 shares (aggregating up to ₹9,600.00 Cr) |
| Fresh Issue | 24,000,000 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | 96,000,000 shares of ₹5 (aggregating up to ₹[.] Cr) |
| Retail Discount | Rs 30 per share |
| Employee Discount | Rs 30 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
New India Assurance IPO offers 120,000,000 shares. 58,200,000 (48.50%) to QIB, 17,460,000 (14.55%) to NII, 40,740,000 (33.95%) to RII, 3,600,000 (3.00%) to employees. 2,263,333 RIIs will receive minimum 18 shares and (sNII) and (bNII) will receive minimum 252 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 58,200,000 (48.50%) | NA |
| NII (HNI) Shares Offered | 17,460,000 (14.55%) | |
| Retail Shares Offered | 40,740,000 (33.95%) | 2,263,333 |
| Employee Shares Offered | 3,600,000 (3.00%) | NA |
| Total Shares Offered | 120,000,000 (100%) |
New India Assurance IPO opens on November 1, 2017, and closes on November 3, 2017.
| IPO Open Date | Wednesday, November 1, 2017 |
| IPO Close Date | Friday, November 3, 2017 |
| Basis of Allotment | Wednesday, November 8, 2017 |
| Initiation of Refunds | Thursday, November 9, 2017 |
| Credit of Shares to Demat | Friday, November 10, 2017 |
| Listing Date | Monday, November 13, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 3, 2017 |
Investors can bid for a minimum of 18 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 18 | ₹14,400 |
| Retail (Max) | 13 | 234 | ₹187,200 |
| Lot Size Calculator | |||
Incorporated on July 23, 1919 at Mumbai, The New India Assurance Co. Ltd (NIA) is the oldest (in operation for almost a century) and largest general insurance company in India. The company was nationalized by the GoI on January 1, 1974. The President of India, acting through the MoF is the promoter of the company and holds 100% of the pre-Offer paid-up Equity Share capital of the company.
NIA offers insurance in categories including fire insurance; marine insurance, motor insurance, crop insurance, health insurance and other insurance products.
NIA is the market leadership in the general insurance industry in India across the segments except crop insurance.
Company has built an multi-channel distribution network that includes individual and corporate agents, brokers, bancassurance partners and other intermediaries, as well as direct sales and sales through online channels. Company's distribution network includes 68,389 individual agents and 16 corporate agents, 25 banks, and a large number of OEM and automotive dealer.
New India Assurance is rated A-(Excellent) by AM Best Company since 2007 and have been rated AAA/Stable by CRISIL since 2014.
Competitive Strengths
1. Market leadership and established brand for around 100 years.
2. International operations since 1920. Presence in UK with a desk at Lloyd�s, London. Also have operations in Japan and Australia for over 50 years.
3. Diversified product offering.
4. Strong relationship with reputed reinsurers.
5. Expansive multi-channel distribution network.
6. Robust IT infrastructure
| Particulars | For the year/period ended (in Rs. million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | ||||
| Total Assets | 365,668.25 | 316,338.34 | 345,410.14 | |||
| Total Revenue | 205,536.23 | 176,727.27 | 157,110.83 | |||
| Profit After Tax | 8,398.60 | 9,303.54 | 13,773.23 | |||
The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholder.
Offer for Sale
The proceeds of the Offer for Sale shall be received by the Selling Shareholder. Company will not receive any proceeds from the Offer for Sale.
Fresh Issue
Company proposes to utilize the Net Proceeds towards meeting our future capital requirements which are expected to arise from the growth and expansion of our business, improving our solvency margin and consequently our solvency ratio.
[Dilip Davda] Risk savvy cash surplus investors may consider moderate Investment for long term (Other) Read detail review...
The New India Assurance IPO is subscribed 1.20 times on November 3, 2017 4:00:00 PM. The public issue subscribed 0.11 times in the retail category, 2.34 times in the QIB category, and 0.11 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 2.34 |
| NII | 0.11 |
| Retail | 0.11 |
| Employee | 0.20 |
| Total | 1.20 |
| Particulars | ICICI Lombard (Pvt Sector) | New India Assurance (PSU) |
|---|---|---|
| IPO size at the upper price band | Rs 5700 crore | Rs 9600 crore |
| Price Band | Rs 651 - Rs 661 | Rs 770 - Rs 800 |
| Shares issued at | Rs 661.00 | NA |
| FV Rs Per share | Rs 10 | Rs 5 |
| Minimum application lot | 22 shares | 18 shares |
| Issue dates | 15.09.17 to 19.09.17 | 01.11.17 to 03.11.17 |
| Discount offered | NIL | Rs 30 per share to Retail/Employees |
| Issue allocations | 50% QIBs, 15% HNIs, 35% Retail | 50% QIBs, 15% HNIs, 35% Retail |
| IPO constitute % of post issue capital | 19% | 14.56% |
| NAV at the time of IPO | Rs 82.57 per share | Rs 164.04 |
| IPO priced at P/BV | 7.6 | 2.4 |
| IPO priced at P/E | 46 to 50 | 31 to 33 |
| Market share of its overall business | 8.40% | 15% |
| Main Promoters | ICICI Group | Govt. of India |
| Listing at | BSE/NSE | BSE/NSE |
| Post issue promoter holding | 55.92% | 85.44% |
| Market Cap based on upper price band | Rs 30006 crore | Rs 65920 crore |
| In operation since | Since 2000 | Since 1919 |
| Net worth as on 31.03.17 | Rs 3328 crore | Rs 12596 crore |
| Net woth as on 30.06.17 | Rs 3919 crore | Rs 13123.5 crore |
| No. of policies as on 31.03.17 | 17.7 million | 27.10 million |
| Investment asset as on 30.06.17 | Rs 16446 crore | Rs 63122 crore |
| Investment Income for FY 2017 | Rs 315 crore | Rs 4535 crore |
| Investment Income for Q1 2018 | Rs 122 crore | Rs 1255 crore |
| Solvency Ratio (IRDAI Specific 150%) as on 30.06.17 | 213% | 227% |
| Listing Date | November 13, 2017 |
| BSE Script Code | 540769 |
| NSE Symbol | NIACL |
| ISIN | INE470Y01017 |
| Final Issue Price | ₹800 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹800.00 |
| ₹748.90 |
| ₹717.75 |
| ₹749.00 |
| ₹725.05 |
| NSE |
|---|
| ₹800.00 |
| ₹750.00 |
| ₹717.40 |
| ₹750.00 |
| ₹727.10 |
The New India Assurance Company Limited
87, M.G. Road, Fort,
Mumbai 400 001
Phone: +91 22 2270 8263
Email: investors@newindia.co.in
Website: http://www.newindia.co.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: nia.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
New India Assurance IPO is a main-board IPO of 120,000,000 equity shares of the face value of ₹5 aggregating up to ₹9,600.00 Crores. The issue is priced at ₹770 to ₹800 per share. The minimum order quantity is 18 Shares.
The IPO opens on November 1, 2017, and closes on November 3, 2017.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The New India Assurance IPO opens on November 1, 2017 and closes on November 3, 2017.
New India Assurance IPO lot size is 18 Shares, and the minimum amount required is ₹14,400.
You can apply in New India Assurance IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for New India Assurance IPO will be done on Wednesday, November 8, 2017, and the allotted shares will be credited to your demat account by Friday, November 10, 2017. Check the New India Assurance IPO allotment status.
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