The New India Assurance Company Limited IPO

The New India Assurance Company Limited

Issue Open

Nov 01, 2017

Price Band

₹ 770 - ₹ 800

Issue Size

₹ 9,600.00 Cr

Credit of Shares to Demat

-

Issue Close

Nov 03, 2017

Bid Lot

18

Listing Exchange

BSE, NSE

Cut off time for UPI Mandate Confirmation

-

Issue Type

Book Built Issue IPO

Minimum Order Quantity

18

Allotment Details

-

Face Value

Rs 5 Per Equity Share

Listing On

Nov 13, 2017

Refunds

-

About the company:

Introduction: The New India Assurance Company is the oldest and largest general insurance company in the country headquartered at Mumbai. The company has market leadership in all segments of the industry except crop insurance. The company has established the multi channel distribution network comprising of agents, brokers, bancassurance partners and other intermediaries.

Date of Establishment: Company was founded in the year 1919. 

Product & Service Offering: The company is into general insurance market offering its services in  fire insurance; marine insurance, motor insurance, crop insurance, health insurance and other insurance products.

Customer Segment: Customer base comprises majorly middle class and upper middle class in cities. The company has dominant presence in eastern & southern parts of India. 

Promoters of NIA:  President of India, acting through the MoF.

Objects of the Issue: The key aim of the issue is to meet

     i) to meet the working capital requirement

     ii) General corporate purposes.

     iii) smoothen up the business expansion plan

     iv) Improving solvency margin and solvency ratio

Company Financials:
Summary of financial Information (Consolidated)
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

 

 

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