Reuters logo
Indian state-run GIC Re's $1.75 billion IPO subscribed nearly 80 pct on first day
October 11, 2017 / 1:55 PM / in 13 days

Indian state-run GIC Re's $1.75 billion IPO subscribed nearly 80 pct on first day

MUMBAI (Reuters) - State-run reinsurer General Insurance Corp of India’s initial public offering of shares to raise 113.73 billion rupees ($1.75 billion) was subscribed nearly 80 percent on the first day of the sale on Wednesday, stock exchange data showed.

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, August 24, 2015. REUTERS/Danish Siddiqui/files

The institutional portion of the sale has already been subscribed more than 1.5 times, the data showed.

The IPO, India’s biggest in seven years, closes for subscription on Friday.

($1 = 65.1550 Indian rupees)

Reporting by Devidutta Tripathy; Editing by Subhranshu Sahu

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below