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Tuesday, October 24, 2017

New India Assurance (NIA) Rs.10000 Crore IPO hitting streets soon

New India Assurance (NIA), the largest general insurance company in the country, is set to hit the capital markets with around Rs10,000 crore initial public offering (IPO) in the first week of November 2017

The New India Assurance Co. Ltd (NIA) is the oldest (in operation for almost a century) and largest general insurance company in India. The company was nationalized by the GoI on January 1, 1974. The President of India, acting through the MoF is the promoter of the company and holds 100% of the pre-Offer paid-up Equity Share capital of the company.

NIA offers insurance in categories including fire insurance; marine insurance, motor insurance, crop insurance, health insurance and other insurance products. 

NIA is the market leadership in the general insurance industry in India across the segments except crop insurance.

New India Assurance is rated A-(Excellent) by AM Best Company since 2007 and have been rated AAA/Stable by CRISIL since 2014

The face value of equity shares offered would be Rs.5 per share
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