After SBI Life Insurance, now it is turn of State-owned reinsurance company New India Assurance (NIA) which will soon come out with a public issue.
Recently the company filed its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI).
The company is soon coming out with an Initial Public Offer (IPO) …..
I am sure in the current BULL RUN, small and medium investors are running after all IPO’s to get good listing gains !!!
After good response to recent issues like D-Mart, HUDCO, CDSL, AU Small Finance Bank, Salasar Techno Engineering, etc investors would be eagerly waiting for New India Assurance (NIA) IPO….
The offer comprises a fresh issue of 24 million shares by the company, besides a secondary market sale of 96 million shares by the government.
NIA’s issue size is estimated at Rs 9,500-9,600 crore ($1.48-1.5 billion).
Company has received IRDA approval for its IPO.
I am sure you might be searching for all details about New India Assurance (NIA) IPO.
New India Assurance (NIA) Company Profile :
The New India Assurance Co. Ltd., based in Mumbai, Maharashtra is one of the five Wholly Government of India owned assurance companies of India. It is the “largest general insurance company of India on the basis of gross premium collection inclusive of foreign operations”. It was founded by Sir Dorabji Tata in 1919, and was nationalised in 1973.
New India Assurance operates both in India and foreign countries.
New India Assurance (NIA) Promoters:
As of now, the company is fully-owned by the government.
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New India Assurance (NIA) IPO Detail :
Issue Open: Yet to be Announced
Issue Type: Book Built Issue IPO
Issue Size: 120,000,000 shares of Face value of Rs. 10
Face Value: Rs 10 Per Equity Share
Issue Price: Yet to be Announced
Market Lot: Yet to be Announced
Minimum Order Quantity: Yet to be Announced
Listing At: BSE, NSE
Important Dates of New India Assurance (NIA) IPO :
Bid/Offer Opens On: Yet to be Announced
Bid/Offer Closes On: Yet to be Announced
Finalisation of Basis of Allotment: Yet to be Announced
Initiation of refunds: Yet to be Announced
Credit of Equity Shares to demat accounts: Yet to be Announced
Commencement of trading of the Equity Shares on the Stock Exchanges: Yet to be Announced
Download Red Herring Prospectus of New India Assurance (NIA) IPO :
To Download Red Herring Prospectus of New India Assurance (NIA) IPO Click Here
Grey Market Premium (GMP) of New India Assurance (NIA) :
Information Yet not available. Visit again for details.
New India Assurance (NIA) IPO Registrar :
Yet to be decided
New India Assurance (NIA) IPO Lead Manager(s) :
- Kotak Mahindra Capital
- Axis Capital
- IDFC Bank
- Nomura Financial Advisory and Securities (India)
- Yes Securities
New India Assurance (NIA) IPO Allotment Status :
Registrar to the issue is yet to be decided.