New India Assurance Company Limited IPO (New India Assurance IPO)- Upcoming IPO

New India Assurance Company Limited IPO (New India Assurance IPO)- Upcoming IPO

In the list of upcoming IPO New India Assurance Company Limited is planning to launched an IPO (Initial Public Offering).New India Assurance IPO consist of two things one Fresh Issue and second one offer for Sale(OFS).

  • The tentative size of the New India Assurance IPO is 120,000,000 Equity.
  • The tentative price band of NIA IPO might be somewhere Rs 770- Rs 880 per equity share.
  • The tentative date of Issue would be 1 Nov, 2017.

New India Assurance Company Limited IPO (New India Assurance IPO) details:

  1. Company Details:

  • New India Assurance was established at Mumbai on 23 July, 1919 as a limited company. At the time of incorporation the name of the company was ‘The New India Assurance Company Limited’.
  • Company got the certificate of commencement of business on 14 Oct, 1919.
  • Company is registered with the Insurance Regulatory and Development Authority of India (“IRDAI”) for carrying out the business of general insurance.
  • 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.
  • New India Assurance is oldest and largest General Insurance Company in India except crop insurance.
  • Company is having 68,389 individual agents, 16 corporate agents,25 banks, large number of OEM and automotive dealers.
  • NIA is rated A-(Excellent) by AM Best Company since 2007 & AAA/Stable rating by CRISIL since 2014.
  1. Corporate Identity Number of NIA:

  • U99999MH1919GOI000526
  1. New India Assurance (NIA) key strengths:

  • Market leadership and established brand for around 100 years.
  • 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.
  • Diversified product offering.
  • Strong relationship with reputed reinsurers.
  • Expansive multi-channel distribution network.
  • Robust IT infrastructure
  1. New India Assurance (NIA) Promoter:

  • The President of India, acting through the MoF.
  1. Objective of the New India Assurance Upcoming IPO:

The Offer comprises a Fresh Issue by our Company and an Offer for Sale by the Selling Shareholder.

The 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.

  1. Issue Details of New India Assurance IPO:

  • Issue Open: Nov 1, 2017 – Nov 3, 2017
  • Issue Type: Book Built Issue IPO
  • Issue Size: 120,000,000 Equity Shares of Rs 5 aggregating up to Rs 10,560.00 Cr
    ›  Fresh Issue of 24,000,000 Equity Shares of Rs 5 aggregating up to Rs [.] Cr
    › Offer for Sale of 96,000,000 Equity Shares of Rs 5 aggregating up to Rs [.] Cr
  • Face Value: Rs 5 Per Equity Share
  • Issue Price: Rs 770 – Rs 880 Per Equity Share
  • Market Lot: 18 Shares
  • Minimum Order Quantity: 18 Shares
  • Listing At: BSE, NSE
  1. New India Assurance Financial status(Consolidated):

ParticularsFor the year/period ended (in Rs. million)
31-Mar-1731-Mar-1631-Mar-15
Total Assets365,668.25316,338.34345,410.14
Total Revenue205,536.23176,727.27157,110.83
Profit After Tax8,398.609,303.5413,773.23

8.      DRHP of New India Assurance (NIA) Upcoming IPO:

9.      Lead manager to the IPO:

  • Axis bank Limited
  • IDFC bank Limited.
  • Kotak Mahindra Capital Company Limited.
  • Yes Bank Limited.
  • Nomura Financial Advisory and Securities (India) Pvt Ltd.

10.  Registered Address of the company:

87, M.G. Road, Fort,
Mumbai 400 001

11.  Registrar to the IPO:

Link Intime India Private Limited

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