NIA IPO

The IPO of the insurance multinational having operations in 28 countries will be completed in the first week of November, government sources told PTI. The exact amount and pricing for the IPO will be announced by the company early this week. Recently, the company's top management had completed the overseas road shows and had seen the robust response for the issue. Earlier, the company had appointed five merchant bankers - Kotak, Axis Bank, Nomura, IDFC and Yes Bank for the IPO.

NIA

India Inc's top business houses are long-time customers of NIA. New India is the country's only direct insurer with an international 'A' rating and has operations through a desk at Lloyd's, the world's largest specialist insurer. The company, which is targeting Rs 26,000 crore premium in the current fiscal, is the largest general insurer in terms of premium, profits, market share, and distribution network. New India Assurance has assets of over Rs 69,000 crore and solvency of 2.27 despite growing at CAGR of over 15 per cent for last five years. How To Double Your Income? Here Are 5 Quick Ways

NIA and market share

NIA's net-worth, including the fair value of investments, increased to over Rs 38,100 crore as of June-end. Its market value of investments stood at Rs 63,100 crore at the end of June quarter of the current fiscal. The company, which will be celebrating its 'centenary year' in one year, has a rich legacy and sustained its market leadership despite 31 players being there in the industry. In fact, New India's market share has increased in the last five years and currently hovering around 16 per cent.

IPO alerts

The street has seen a couple of more IPOs in last one and half months, which include ICICI Lombard and SBI Life. Some of the other insurers' IPOs, which are likely to hit the street in the near future include HDFC Life, Reliance General, and National Insurance Company. 6 Biggest Mistakes Stock Market Investors Makes