Retail, non-institutional investor, and employee quotas remained undersubscribed.

The issue received bids for 12,61,97,408 shares, which were 1.01 times the issue size of 12,47,00,000 shares

The Rs 11,370-crore issue received bids for 11,40,13,312 shares as against 12,47,00,000 shares on offer.

The offer would constitute 14.22 per cent of the post-offer paid-up equity share capital.

At Rs 11,370-crore, the IPO would be India's third biggest public offer ever.

The issue received bids for 8,88,39,152 shares as against 12,47,00,000 shares on offer.

Brokerages across the board have recommended subscribing to GIC Re IPO.

Just over a year ago, India didn't have a single publicly traded pure-play insurer.

The issue will help the state-run reinsurer to augment its capital position and expand its business.

“GIC is in a very unique space as a reinsurer with a dominant market share and a global book”

ICICI Lombard is a joint venture between ICICI Bank and Canada-based Fairfax Financial.

Going by current trends, the IPO segment is expected to see better performance in 2017 compared to last year.

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