IPO: GIC Re gets 90% on Day 2

The Hindu Business Line - - MARKET WATCH - PTI

The ini­tial public of­fer­ing of State-owned Gen­eral In­sur­ance Cor­po­ra­tion of In­dia (GIC Re) was sub­scribed 90 per cent on Thurs­day, the sec­ond day of bid­ding. GIC Re’s ₹11,370-crore IPO re­ceived bids for over 11.16 crore shares against the to­tal is­sue size of 12.47 crore shares, data avail­able with the NSE showed. The por­tion meant for QIBs was sub­scribed 1.68 times, that for non-in­sti­tu­tional in­vestors by 2 per cent and re­tail in­vestors’ quota by 16 per cent.

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