New India Assurance shares rise 14% as insurer to offload over 1 crore NSE shares in IPO

Shares of general insurance company New India Assurance Company Limited skyrocketed on Thursday, June 18, as the company is offloading over one crore shares in the National Stock Exchange (NSE) IPO.

The stock rose as much as 13.62% to ₹188 apiece on the National Stock Exchange (NSE). At 9:45 am, it was up 12.60% to ₹186.31 per share.

The company’s market capitalisation (m-cap) stood at ₹30,677.52 crore.

The scrip had hit its 52-week high of ₹214.74 per share on July 31, 2025, while its 52-week low of ₹116.97 apiece was recorded on March 30, 2026.

The stock has gained 26.73% in the past week and 14.53% in a month. Year-to-date, it has surged 19.73%.

NSE IPO

On Wednesday, NSE filed a draft red herring prospectus with markets regulator SEBI for its IPO.

The initial share sale will be completely an offer for sale (OFS) of 14.89 crore shares, with existing corporate shareholders collectively divesting nearly 6% of the exchange's stake.

State Bank of India will sell up to 2.48 crore shares, followed by MS Strategic (Mauritius) Limited with 1.60 crore shares.

Other key sellers are Canada Pension Plan Investment Board (1.19 crore shares), Aranda Investments – Mauritius (1.12 crore shares), Bank of Baroda (1.10 crore shares), Stock Holding Corporation of India (1.09 crore shares), General Insurance Corporation (1.07 crore shares), The New India Assurance Company (1.05 crore shares), National Insurance Company (0.60 crore shares) and United India Insurance (0.60 crore shares).

According to analysts, the initial public offering size could be around ₹30,000 crore.

NSE had first filed preliminary papers in 2016 to raise ₹10,000 crore via an OFS by existing shareholders. However, SEBI withheld consent amid concerns over governance lapses and the co-location case.

NSE has appointed 20 merchant bankers for the proposed IPO, while MUFG Intime India serves as the registrar. The company's shares will be listed on BSE.