Health Care

GIC IPO subscribed 0.75 times

GIC IPO subscribed 0.75 times”

General Insurance Corp. of India Ltd's (GIC Re) initial public offer (IPO) was subscribed 81% on the second day of the bidding on Thursday.

Bids were received for 9.41 crore equity shares as against 12.47 crore equity shares on offer in the price band of ₹855-912. The company has set a price range for the issue between Rs 855 to Rs 912 per equity share.

The quota reserved for the QIBs was subscribed 1.56 times; the shares allocated for the NII (non-institutional investors) category got subscribed 0.42% while the quantum blocked for retail investors got subscribed 5.75%.

Meanwhile nearly all brokerage houses have a subscribe recommendation on the IPO. The IPO opened for subscription today, 11 October 2017. GIC IPO is India's second-largest public offer since Coal India's Rs 15,200 crore and Reliance Power's Rs 10,123.2 crore share sale - which was at the second spot before GIC IPO, now slipped to the third place.

The GIC IPO is the first by a non-life state-run insurer to offer a share sale.

General Insurance Corporation (GIC) is the largest reinsurer in India by gross premiums accepted in the fiscal ended March 2017 (FY2017), accounting for almost 60% of the premiums ceded by Indian insurers to reinsurers in the fiscal year. The company proposes to utilise the proceeds towards augmenting the capital base to support growth of the business and to maintain current solvency levels as also general corporate purposes. "While compared to valuation of its peers it is priced attractive but valuations as such for the company is high and it doesn't make sense for someone to hold on to the stock unless one is ready to wait for 2 to 3 years, as in the short-term it's not going to make money due to valuations".

Like this


12 October 2017
Thermo Fisher Scientific Inc (TMO) PT Raised to $207.00 at Leerink Swann
Finally, Covington Capital Management lifted its holdings in Thermo Fisher Scientific by 0.9% during the 2nd quarter. (NYSE:TMO). Following the sale, the director now directly owns 38,757 shares of the company's stock, valued at approximately $6,790,226.40.

12 October 2017
Institutional Investors Lead Shift in Crown Holdings Inc (NYSE:CCK) Sentiment
The institutional investors in our partner's database now own: 120.15 million shares, down from 123.29 million shares in 2017Q1. Commonwealth Bank Of Australia increased Crown Holdings Inc ( CCK ) stake by 409.09% reported in 2017Q2 SEC filing.

12 October 2017
Pultegroup Inc (NYSE:PHM) Institutional Investor Sentiment Trend
Barclays Capital upgraded the stock to "Equal-Weight" rating in Wednesday, April 6 report. (NYSE:PHM) rating on Thursday, July 13. PulteGroup, Inc. (NYSE:PHM) touched its 1-Year High price of $27.76 on 10/03/17 and its 1-Year Low price of $17.69 on 11/09/16.

12 October 2017
Varied Analyst Comments On Rowan Companies plc (RDC), Vanda Pharmaceuticals Inc. (VNDA)
The collective rating of 2.6 for Rowan Companies plc (NYSE: RDC ) also leans strongly towards the neutral end of the spectrum. The market capitalization (Stock Price Multiply by Total Number of Outstanding Shares) for the company is reported at $1.65B.

12 October 2017
Supremo retoma análise da ação sobre afastamento de parlamentares
Para ele, ao determinar o recolhimento domiciliar à noite, o STF apenas impede que o senador frequente "baladas e restaurantes". Para o ministro, as medidas cautelares devem ser permitidas em casos excepcionais, mas podem ser revistas pelo Legislativo.

12 October 2017
Lululemon athletica inc.'s (LULU) Outperform Rating Reiterated at Oppenheimer Holdings, Inc
The analysts, on average, are forecasting a $64.16 price target, but the stock is already up 33.96% from its recent lows. Investors may be interested in viewing the Gross Margin score on shares of Lululemon Athletica Inc . (NASDAQ: LULU ).

12 October 2017
Hamas says it has reached deal with Palestinian rival Fatah in Cairo
Cairo is now leading efforts to heal a political split between Gaza-based Hamas group and the West Bank-based Fatah movement. Islamist movement Hamas is blacklisted as a terrorist organisation by the United States and the European Union.

12 October 2017
Walt Disney Company (The) (DIS) Stake Increased by CIBC Asset Management Inc
After $1.58 actual EPS reported by Walt Disney Co for the previous quarter, Wall Street now forecasts -23.42% negative EPS growth. It increased, as 77 investors sold DIS shares while 606 reduced holdings. 108 funds opened positions while 638 raised stakes.

12 October 2017
Orders 166 phones and claims refund
In yet another case of online scam, a 21-year old man from India's national capital: New Delhi scammed Amazon of Rs 50 lakh. He would then speak with the delivery associate and collect his order at a mutually decided place within the locality.

12 October 2017
Stephen King's 'The Talisman' Movie Taps Writer Josh Boone
Stay tuned to Heroic Hollywood for the latest news on Boone's feature film adaptation of King's The Talisman as we learn it. That adaptation is now in development.