Reliance General Insurance IPO – Review, Allotment Status, Subscription, Price, Date & more

Reliance General Insurance IPO is one of the few IPOs of the new financial year into general insurance. The details about this IPO relating to IPO Size, Reliance General Insurance IPO release date, IPO offer price, IPO object, grey market price, IPO allotment status, Reliance General Insurance IPO subscription and details about the company, its promoters and financials – these all pointers have been covered herein.


Reliance General Insurance IPO Review & Ratings

Reliance General Insurance IPO Ratings & Review
Criteria Ratings
Industry Sentiments 6.8/10
Industry Ranking 6.7/10
Company Background 6.9/10
Company Reputation 6.7/10
Competitive Edge 6.9/10
Financial Statements 6.9/10
Popularity Index 7.3/10
Promoters Reputation 6.7/10
Retail Appetite 6.8/10
Top Brokers Review 6.8/10
Overall Ratings 6.6/10
Star Ratings ★★★☆☆

Summary of Reliance General Insurance IPO

Reliance General Insurance IPO

The company was first incorporated as ‘Reliance General Insurance Limited’ in the year 17th August 2000, which was a public limited company and later the name was changed to ‘Reliance General Insurance Company Limited’ on 12th October 2000. After this the company was registered with IRDAI.

This company is a part of Reliance Group led by Anil Ambani. This company has received a nod from SEBI for IPO. The IPO comprises of fresh issues of up to 16,769,995 equity shares by the company and an offer for sale by the selling shareholders of up to 50,309,984 equity shares. Hence, the net offer is comprised of up to 60,371,982 equity shares and Reliance Capital shareholders’ reservation portion of up to 6,707,997 equity shares.

The Global coordinator and book running lead managers for this IPO would be:
– Motilal Oswal Investment Advisors Limited
– Credit Suisse Securities (India) Private Limited
– Edelweiss Financial Services Limited
– UBS Securities India Private Limited
and;
The book running lead managers are Haitong Securities India Private Limited & IDBI Capital Markets & Securities Limited.
The Registrar to the offer is Karvy Computershare Private Limited.

The Equity shares are offered through the Red Herring Prospectus were proposed to be listed on BSE and NSE and has got the approvals for listing.


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Reliance General Insurance IPO Date

The release date is expected to be somewhere before the mid-year close.

Reliance General Insurance IPO Subscription

  Subscription
Day 1 X
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This section would be updated on a daily basis post the release of IPO.

Reliance General Insurance IPO Allotment Status

Once the IPO is released and opened for public subscription, the details relating to allotment of shares would be updated herein.

Reliance General Insurance IPO Price Band

Reliance General Insurance IPO has not been floated out in the market and hence the IPO price band is not known yet. The details would be shortly updated herein.

Reliance General Insurance IPO Issue Size

The Issue size is estimated at Rs 1,500-1,600 crore but not yet confirmed and it will value the firm at Rs 6,400 crore.

Reliance General Insurance IPO Equity Share Offerings

The number of shares being offered under this IPO is up to 16,769,995 equity shares by the company and an offer for sale by the selling shareholders of up to 50,309,984 equity shares. Hence, the net offer is comprised of up to 60,371,982 equity shares and Reliance Capital shareholders’ reservation portion of up to 6,707,997 equity shares, according to DRHP filed with SEBI.  The public issue will constitute 25% share dilution on a post-offer basis. The author and the net offer shall constitute 25% and 22.50% of the post offer equity share of the company, respectively.


Reliance General Insurance Company Ltd – Company Overview

RGIC a part of Reliance Group led by Anil Ambani. The company is known as ‘Reliance General Insurance Company Limited’, our Registered Office is located at H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400710, Maharashtra, India, and our Corporate Office is at Reliance Centre, South Wing, 4th Floor, Off. Western Express Highway, Santacruz (East), Mumbai 400 055, Maharashtra, India. The company registration number of our Company is 128300 and our CIN is U66603MH2000PLC128300. Our Company is registered with the Registrar of Companies, Mumbai, located at 100, Everest, Marine Drive, Mumbai 400 002, Maharashtra, India.

Key members Reliance General Insurance IPO

Name Designation 
Rajendra  Prabhakar Chitale Independent Director
Haris Ansari Independent Director
Dr. Thomas Mathew Independent Director – Additional
Chhaya Virani Independent Director
Lav Ramji Chaturvedi Independent Director
Rakesh Jain Executive Director and CEO
Hemant Kumar Jain Chief Financial Officer
Mohan  Khandekar Company  Secretary  and  Compliance  Officer

Legal Counsel to Reliance Capital as to Indian Law

  • Luthra & Luthra Law Offices

Joint Statutory Auditors of our Company

  • Price Waterhouse Chartered Accountants LLP (Chartered Accountants)
  • Pathak H.D. & Associates (Chartered Accountants)

Bankers to the Company

  • Axis Bank Limited
  • HDFC Bank Limited
  • YES Bank Limited

Competitive Strengths of Reliance General Insurance IPO

  • Comprehensive Product Suite
  • Strong Financial Position
  • Strong IT Infrastructure
  • Robust Enterprise Risk Management Framework
  • Proficient Senior Management Team
  • Quality of products
  • Brand image
  • Extensive Multi-Channel Distribution Network
  • Customer-centric Sustainable Business Model

Business Strategies of Reliance General Insurance Company Ltd

  • Continue to Focus on Product Innovation
  • Continue to Invest in Technology
  • Grow Distribution Network
  • Provide Superior Customer Experience
  • Leveraging on marketing skills and initiatives
  • Improving functional efficiency

Reliance General Insurance Company Ltd – Financial Statements

For a quick look into the financial position of the company, we have presented the following details. The summary of financial information derived from the Restated Financial Information as of and for the Fiscal Years ended, March 31, 2013, March 31, 2014, March 31, 2015, March 31, 2016 and March 31, 2017.

Assets of the Company

Assets (in INR & Millions)
  Mar’17 Mar’16 Mar’15 Mar’14 Mar’13
Non-Current Asset
Current Asset
Total Asset

Revenue & PAT of the Company

Revenue & Profits (in INR & Millions)
  Mar’17 Mar’16 Mar’15 Mar’14 Mar’13
Total Revenue
Profit after Tax (PAT)

Earnings per Equity Share

Earning per Equity Share (in INR)
  Mar’17 Mar’16 Mar’15 Mar’14 Mar’13
Basic
Diluted

 


Reliance General Insurance IPO Promoters

Promoter of the Company
Reliance Capital Limited

Reliance General Insurance IPO Offer Details or Issue Details

Offer Up  to  67,079,979  Equity  Shares  aggregating  up  to  `  [●] million
Including :
Reliance Capital Shareholders’ Reservation Portion Up to 6,707,997  Equity Shares
Net Offer Up to 60,371,982  Equity Shares
Of which:
Fresh Issue Up to 16,769,995 Equity Shares aggregating up to ` [●] million
Offer for Sale by Reliance Capital Up to 50,309,984 Equity Shares aggregating up to ` [●] million
The Offer consists of:
A.  QIB Portion  30,185,990 Equity Shares  
  Of which:
    Anchor Investor Portion* Up to 18,111,594 Equity Shares
    Net  QIB  Portion  (assuming  Anchor  Investor Portion is fully subscribed) 12,074,396 Equity Shares
    Of which:
 Mutual Fund Portion 603,719 Equity Shares
 Balance  for  all  QIBs  including  Mutual Funds 11,470,677 Equity Shares
B.  Non-Institutional Portion  Not less than 9,055,798 Equity Shares 
   
C.   Retail Portion  Not less than 21,130,194 Equity Shares 
Pre and post-Offer Equity Shares 
Equity Shares outstanding prior to the Offer 251,549,920  Equity Shares
Equity Shares outstanding after the Offer 268,319,915 Equity Shares

 


Reliance General Insurance IPO Issue Object

  • Working capital requirements
  • General Corporate purpose
  • Issue expenses

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Reliance General Insurance IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead Managers on the basis of various qualitative and quantitative factors. The face value of the equity shares is Rs. 10/- each and the issue price is set at Rs. [*] per equity share.


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Reliance General Insurance IPO Lead Managers

Lead Managers to the Issue
Credit Suisse Securities (India) Pvt Ltd
Edelweiss Financial Services Ltd
IDBI Capital Markets & Securities Ltd
Motilal Oswal Investment Advisors Ltd
UBS Securities India Pvt Ltd
Haitong Securities India Pvt Ltd

Reliance General Insurance IPO Registrar to the Offer

Registrar of the Offer
Karvy Computershare Pvt Ltd

Reliance General Insurance IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Repu-tation Compe-titive Edge Finan-cial State-ment Popu-larity Index Promo-ters Repu-tation
Angel Broking 7.1/10 7.1/10 7.1/10 7.1/10 7.1/10
Sharekhan 7.2/10 7.1/10 7.2/10 7.1/10 7.2/10
Kotak Securities 7.0/10 7.1/10 7.1/10 7.1/10 7.0/10
ICICI Direct 7.0/10 7.0/10 7.3/10 7.1/10 7.1/10
IIFL 7.1/10 7.2/10 7.0/10 7.0/10 7.1/10
Edelweiss 7.1/10 7.1/10 7.1/10 7.0/10 7.2/10
Zerodha 7.1/10 7.1/10 7.1/10 7.1/10 7.0/10
5Paisa 7.1/10 7.1/10 7.1/10 7.1/10 7.1/10
Karvy 7.1/10 7.0/10 7.2/10 7.1/10 7.1/10
Motilal Oswal 7.1/10 7.1/10 7.2/10 7.0/10 7.2/10

Reliance General Insurance IPO Grey Market Premium

The grey market for Reliance General Insurance IPO will open 15 days before the company opens its IPO subscription.


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Reliance General Insurance IPO News

News 1 – Public Issues : Draft Offer Documents filed with SEBI on Oct 10, 2017


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