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News From Press General Insurance IPO subscribed 90% on Day 2

General Insurance IPO subscribed 90% on Day 2

Source: Moneycontrol Oct 13, 2017

The initial public offer (IPO) of state-owned General Insurance Corporation of India was subscribed 90 percent on the second day of the bidding today.

GIC Re's Rs 11,370-crore IPO received bids for 11,16,79,024 shares against total issue size of 12,47,00,000 shares, data available with the NSE showed. 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.

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