GIC Re lists at a 5% discount

General Insurance Corporation of India launches the share trading at a discount of 5% on issue price on the BSE. Around 43.82 lakh shares were transacted on the exchange. Whereas, 2.75 crore shares were traded at the NSE. The IPO was oversubscribed by 1.38 times and price band was fixed at Rs. 855-912. IPO of Nippon Reliance Nippon Life Asset Management’s IPO was fully subscribed within one minute of its opening and it received bids of 5,011.65 crores against the issue size of 1,079.57 crore. The public issue closed on Oct 27 with a price band of Rs. 247-252.