Incorporated on July 23, 1919 at Mumbai, 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.
Company has built an multi-channel distribution network that includes individual and corporate agents, brokers, bancassurance partners and other intermediaries, as well as direct sales and sales through online channels. Company’s distribution network includes 68,389 individual agents and 16 corporate agents, 25 banks, and a large number of OEM and automotive dealer.
New India Assurance is rated A-(Excellent) by AM Best Company since 2007 and have been rated AAA/Stable by CRISIL since 2014.
Competitive Strengths
- Market leadership and established brand for around 100 years.
- International operations since 1920. Presence in UK with a desk at Lloyd�s, London. Also have operations in Japan and Australia for over 50 years.
- Diversified product offering.
- Strong relationship with reputed reinsurers.
- Expansive multi-channel distribution network.
- Robust IT infrastructure
New India Assurance IPO Details
| Issue Type | Book Built Issue IPO |
| Face Value | ₹5 per equity share |
| IPO Price | ₹770 to ₹800 per equity share |
| Market Lot | 18 Shares |
| Min Order Quantity | 18 Shares |
| Listing At | BSE, NSE |
| BSE Script Code | 540769 |
| NSE Symbol | NIACL |
| ISIN | INE470Y01017 |
| Issue Size | Aggregating up to ₹9,600.00 Cr |
| Fresh Issue | Aggregating up to ₹[.] Cr |
| Offer for Sale | Aggregating up to ₹[.] Cr |
New India Assurance IPO Tentative Timetable
| PARTICULAR | DATE |
| IPO Open Date | 1-Nov-17 |
| IPO Close Date | 3-Nov-17 |
| Basis of Allotment Date | 8-Nov-17 |
| IPO Listing Date | 13-Nov-17 |
New India Assurance IPO Lot Size
| Application | Lots | Shares | Amount (Cut-off) |
| Minimum | 1 | 18 | ₹14,400 |
| Maximum | 13 | 234 | ₹187,200 |
IPO Allotment Status
Please Click Hare To Check IPO Allotment Status For The New India Assurance Company Limited
Company Promoters:
NIA promoter is the President of India, acting through the MoF.
Company Financials:
| PARTICULAR | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 |
| Total Assets | 365,668.25 | 316,338.34 | 345,410.14 |
| Total Revenue | 205,536.23 | 176,727.27 | 157,110.83 |
| Profit After Tax | 8,398.60 | 9,303.54 | 13,773.23 |
Objects of the Issue:
The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholder.
Offer for Sale
The proceeds of the Offer for Sale shall be received by the Selling Shareholder. Company will not receive any proceeds from the Offer for Sale.
Fresh Issue
Company proposes to utilize the Net Proceeds towards meeting our future capital requirements which are expected to arise from the growth and expansion of our business, improving our solvency margin and consequently our solvency ratio.
Registrar & Company Details
| Company Contact Information | New India Assurance IPO Registrar |
| The New India Assurance Company Limited 87, M.G. Road, Fort, Mumbai 400 001 Phone: +91 22 2270 8263 Email: investors@newindia.co.in Website: http://www.newindia.co.in/ | Link Intime India Private Ltd Link Intime India Private Ltd C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai – 400083 Phone: +91-22-4918 6270 Email: nia.ipo@linkintime.co.in Website: http://www.linkintime.co.in |
