India’s biggest reinsurer, General Insurance Corp of India (GIC Re) Rs 11,370 crore IPO which opened for subscription today is India’s second biggest IPO ever after Coal India’s Rs 15,200 crore issue.
The company has set a price range for the issue between Rs 855 to Rs 912 per equity share.
The public offer will remain open for three days starting from 11 October to 13 October.
At the upper end of the price range, the company is expected to raise Rs 11,372.64 crore. General Insurance Corporation is first of the five state-run non-life insurance firms to initiate a stake sale and listing process
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