General Insurance Corporation of India announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2024.Powered by Capital Market - Live

The stock has lost 8.69% in four sessions, from its recent closing high of Rs 421.80 recorded on 02 September 2024. On 03 September 2024, the President of India had announced its proposal to sell 3.39% stake in the company through an offer for sale (OFS) on 04th and 05th September 2024. Through the OFS, the Government of India proposes to sell 5,95,12,000 shares, representing a 3.39% stake, with an option to sell an additional 3.39% stake or 5,95,12,000 equity shares in case of oversubscription. On 04 September 2024, the promoter informed the bourses about its intention to exercise the oversubscription option in the offer to the extent of 50,49,872 equity shares (representing 0.288% of the total issued and paid-up equity share capital of the company). Accordingly, the total offer size was 6,45,61,872 equity shares (representing 3.68% of the total issued and paid-up equity share capital of the company). The floor price of the offer had been set at Rs 395 apiece, a 6.23% discount to the stock's closing price of Rs 421.25 recorded on 03 September 2024. The Government of India held 85.78% stake in General Insurance Corporation of India as of 30 September 2024. A minimum of 25% of the offer has been reserved for mutual funds and insurance companies, while 10% for retail investors. The OFS opened on 04 September 2024, which was the T-day, where only non-retail investors can bid for the shares. On 05 September 2024, which was the T+1 day, the OFS was accessible for retail investors and those non-retail investors, who choose to carry forward their un-allotted bids from T-day. On T-day, the OFS received subscription for 5,81,05,684 shares. It was subscribed 108.49%. On T+1 day, the OFS received subscription for 13,45,323 shares. It was subscribed 22.61%. General Insurance Corporation of India is engaged in the activities of assuming all or part of the risk associated with existing insurance policies originally underwritten by other insurance carriers. Powered by Capital Market - Live

General Insurance Corporation of India tumbled 5.59% to end at Rs 397.70 after the President of India announced its proposal to sell 3.39% stake in the company through an offer for sale (OFS) on 04th and 05th September 2024. Through the OFS, the Government of India proposes to sell 5,95,12,000 shares, representing a 3.39% stake, with an option to sell an additional 3.39% stake or 5,95,12,000 equity shares in case of oversubscription. The floor price of the offer has been set at Rs 395 apiece, a 6.23% discount to the stock's closing price of Rs 421.25 recorded on Wednesday, 03 September 2024. The Government of India held 85.78% stake in General Insurance Corporation of India as of 30 September 2024. A minimum of 25% of the offer has been reserved for mutual funds and insurance companies, while 10% for retail investors. The OFS opened on 04 September 2024, which is the T-day, where only non-retail investors can bid for the shares. On 05 September 2024, which is the T+1 day, the OFS will be accessible for retail investors and those non-retail investors, who choose to carry forward their un-allotted bids from T day. On Day 1 (T-day), as of 15:30 IST, the OFS received subscription for 5,81,05,684 shares. It was subscribed 108.49% on the base non-retail offer size of 5,35,60,800 shares. General Insurance Corporation of India is engaged in the activities of assuming all or part of the risk associated with existing insurance policies originally underwritten by other insurance carriers. Powered by Capital Market - Live

Thomas Cook (India) Ltd, Oil India Ltd, Ahluwalia Contracts (India) Ltd and KSB Ltd are among the other losers in the BSE's 'A' group today, 04 September 2024.General Insurance Corporation of India lost 5.28% to Rs 399 at 14:45 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 2.21 lakh shares were traded on the counter so far as against the average daily volumes of 92748 shares in the past one month.Thomas Cook (India) Ltd crashed 4.99% to Rs 208.55. The stock was the second biggest loser in 'A' group.On the BSE, 1.09 lakh shares were traded on the counter so far as against the average daily volumes of 69187 shares in the past one month.Oil India Ltd tumbled 4.90% to Rs 693.95. The stock was the third biggest loser in 'A' group.On the BSE, 1.68 lakh shares were traded on the counter so far as against the average daily volumes of 5.5 lakh shares in the past one month.Ahluwalia Contracts (India) Ltd pared 4.27% to Rs 1169.1. The stock was the fourth biggest loser in 'A' group.On the BSE, 5072 shares were traded on the counter so far as against the average daily volumes of 23594 shares in the past one month.KSB Ltd slipped 4.00% to Rs 889.3. The stock was the fifth biggest loser in 'A' group.On the BSE, 7320 shares were traded on the counter so far as against the average daily volumes of 5084 shares in the past one month.Powered by Capital Market - Live

General Insurance Corporation of India has fixed 11 September 2024 as record date for payment of dividend of Rs 10 per equity share for FY 2024. Powered by Capital Market - Live

Net profit of General Insurance Corporation of India rose 43.27% to Rs 1400.66 crore in the quarter ended June 2024 as against Rs 977.66 crore during the previous quarter ended June 2023. Sales rose 16.11% to Rs 10097.61 crore in the quarter ended June 2024 as against Rs 8696.42 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales10097.618696.42 16 OPM %14.5911.11 - PBDT1490.131153.58 29 PBT1490.131153.58 29 NP1400.66977.66 43 Powered by Capital Market - Live

General Insurance Corporation of India will hold a meeting of the Board of Directors of the Company on 9 August 2024.Powered by Capital Market - Live