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
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 |
| Day 2 | X |
| Day 3 | X |
| Day 4 | X |
| Day 5 | X |
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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