RSS Feed (xml)
Oriental Insurance Company, OIC, one of the four public sector non-life insurers, would like to unlock part of its value, courtesy an initial public offering, IPO.
The company, which has grown substantially in the past few years and hopes to move ahead rapidly in the current de-tariffed regime, has done a set of back-of-the-envelope calculations, which points to a decent per-share value, assuming a face value of Rs 10 per share. The company has a healthy mix of businesses, a significant part of which is on account of motor insurance. It is targeting a number of large institutional clients at this juncture. It has not lost any major mandate to its public-sector peers in recent times, it is pointed out.
OIC recorded a gross direct premium of Rs 3,609 crore in 2005-06 compared to Rs 3,090 crore recorded in the previous year. Its net profit stood at Rs 283 crore. The company's paid-up capital is Rs 100 crore,
No comments:
Post a Comment