New India Assurance Company Ltd - IPO

New India Assurance Company Ltd IPO Details

Initial public offering of 120,000,000* equity shares of face value of Rs. 5 each (equity shares) of the New India Assurance Company Limited(issuer or company) for cash at a price of Rs. 800* per equity share including a share premium of Rs. 795 per equity share (offer price),Aggregating to Rs. 9466.98 Crores consisting of a fresh issue of 24,000,000* equity shares aggregating to Rs. 1893.40 Crores (fresh issue) and an Offer for sale of 96,000,000^ equity shares aggregating to Rs. 7573.58 Crores (offer for sale and together with the fresh issue, the offer) by the President of India, acting through the ministry of finance, government of india (the selling shareholder). The offer and the net offer Constituted 14.56% and 14.13%, respectively of the post-offer paid-up equity share capital of the company. The offer included a reservation of 3,600,000^ equity shares aggregating to Rs. 277.20 Crores for subscription by eligible employees (as defined indefinitions and abbreviations) (the employee reservation portion). The offer comprises the net offer (defined below) of 116,400,000^ equityShares and the employee reservation portion of 3,600,000^ equity shares.The face value of equity shares is Rs. 5 each and the offer price is 160 times the face value of the equity shares.*a discount of Rs. 30 on the offer price was offered to retail individual investors (retail discount) and to eligible employees (defined below) bidding in the employee reservation portion (employee discount).^ subject to finalisation of the basis of allotment

Objective of issue

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New India Assurance Company Ltd Contact Details

New India Assurance Company Ltd, C-101 247 Park, L B S Marg, Vikhroli West, Mumbai-400083

Phone - 91-22-49186000

Fax - 91-22-49186060

Email - investors@newindia.co.in

Website - www.newindia.co.in