GENERAL INSURANCE CORPORATION OF INDIA IPO initial public offering (IPO) was oversubscribed 1.33 on the last day of issue.
The issue IPO received bids for 16,61,69,056 shares against total issue size of 12,47,00,000 shares
The IPO, which aims to raise Rs 11,370-crore
The portion meant for qualified institutional buyers (QIBs) was oversubscribed 1.68 times, that for non- institutional investors by 2 percent and retail investors' quota by 16 percent.
The issue comprises a fresh issue of 1,72,00,000 shares and an offer for sale of 10,75,00,000 shares by the promoter.
The book running lead managers to the offer are Axis Capital, Citigroup, Deutsche India, HSBC Securities and Kotak Capital.
IPOs are issued in primary market and are introduced by companies who are raising funds from public for the first time. Only those who have good knowledge about IPO should invest in it. Stock market traders can consult financial advisory services providers as well to get experts advise and earn better.
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