The GIC Re’s initial public offer (IPO) was subscribed 1.38 times earlier this month. GIC Re shares opened 6.8% lower on the BSE at Rs850 apiece compared to the issue price of Rs912 which was the upper end of the price band of Rs855-912 per share. At 1.21pm, GIC Re shares were down 12.28% at Rs800.05, while benchmark 30-share Sensex traded 1.34% higher at 33,039.49 points. Earlier in the day, the shares touched a high of Rs866.10 and a low of Rs780.25. The largest IPO in India remains state-owned Coal India Ltd’s Rs15,200 crore share sale in 2010.

Source: Mint October 25, 2017 04:41 UTC