IndusInd General Insurance Company Limited (formerly Reliance General Insurance)
- Unlisted share
- Insurance
- ISIN INE124D01014
At a glance
Income
FY26
₹12,743 Cr
+0.6%on FY25What the company earned in the year, before its costs.
Profit
FY26
₹90.81 Cr
−71.2%on FY25What was left after every cost and tax was paid.
Market valuecalculated
₹15,075 Cr
What the whole company would be worth at GrowFast's indicative price.
Net worth
FY26
₹3,919 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- IndusInd General Insurance Company Limited (formerly Reliance General Insurance)
- ISIN
- INE124D01014
- Sector
- Insurance
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹544.50
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About IndusInd General Insurance Company Limited (formerly Reliance General Insurance)
This is a Mumbai-based general insurer selling motor, health, crop, fire, marine and other non-life cover; it wrote about Rs 12,743 crore of gross premium in 2025-26. It was renamed IndusInd General Insurance Company Limited on 22 September 2025, after its parent Reliance Capital came out of insolvency in March 2025 and became part of IndusInd International Holdings Limited (IIHL) of Mauritius. Reliance Capital owns about 74% and Aasia Enterprises LLP, a promoter group entity, about 25%.
Written from: indusindinsurance.com, indusindinsurance.com
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Insurance
- ISIN
- INE124D01014
- Holding company
- Reliance Capital Limited (73.74%), with promoter group entity Aasia Enterprises LLP (24.96%); ultimate holding company IndusInd International Holdings Limited, Mauritius
- Key people
- Chairman & Independent Director: Arun Tiwari; Executive Director & CEO: Rakesh Jain; Chief Financial Officer: Hemant Jain
- Face value per share
- ₹10
- Equity shares outstanding
- 27,68,51,308 shares
- Official website
- indusindinsurance.com
Read from: Annual Report 2025-26, unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Price to earnings (P/E)calculated
160.6×
At this price you pay ₹160.6 for every ₹1 of profit the company made in the year.
Price to book (P/B)calculated
3.85×
At this price you pay ₹3.85 for every ₹1 of net worth on the company's books.
Return on equitycalculated
2.3%
For every ₹100 of the owners' money, the company made ₹2.3 of profit in the year.
Debt to equitycalculated
0.25×
The company has borrowed ₹0.25 for every ₹1 of its owners' money.
- Indicative price
- ₹544.50
- Market valuecalculated
- ₹15,075 Cr
- price × shares
- No. of shares
- 27,68,51,308
- EPS
- ₹3.39
- Book value per share
- ₹141.56
- Face value
- ₹10
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2025-26. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
IndusInd General Insurance Company Limited (formerly Reliance General Insurance Company Limited). As published in the company's audited reports. GrowFast has not audited them.
Income, year by year
₹ crore. The darkest bar is the latest year.
FY23 to FY26: ₹10,489 Cr to ₹12,743 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY23 to FY26: ₹271 Cr to ₹90.81 Cr.
| Particulars | FY23 | FY24 | FY25 | FY26Latest |
|---|---|---|---|---|
| Gross written premium | 10,489.23 | 11,829.68 | 12,666.81 | 12,743.11▲1% |
| Profit before tax | 415.18 | 401.34 | 378.35 | 124.91▼67% |
| Profit after tax | 270.69 | 280.27 | 315.44 | 90.81▼71% |
| Basic earnings per share (₹) | 10.74 | 10.79 | 11.91 | 3.39▼72% |
| Net earned premium | 6,022.42 | 6,687.24 | 7,124.68 | 7,021.32▼1% |
Rupees crore unless marked, standalone. The change shown is the latest year against the year before. Read from: Annual Report 2023-24, Annual Report 2025-26.
Credit rating. CARE A+ on subordinated non-convertible debentures (also BWR A on the 2016 series and ACUITE A+ on the September 2025 series), as stated by the company (as on 31 March 2026) Annual Report 2025-26
Ownership
Shareholding pattern
Who owns the company
73.7%Promoter: Reliance Capital Limited
- Largest holder
- 73.7%
- Top 3 together
- 100.0%
- Holders named
- 3
- Promoter: Reliance Capital Limited73.74%
- Promoter: Aasia Enterprises LLP24.96%
- Others (Indian)1.30%
- Total100.00%
Read from: Annual Report 2025-26, Schedule 5A
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised | Source |
|---|---|---|---|---|---|
| FY2025-26During 2025-26 the company allotted 1,19,40,297 shares of Rs 10 at a premium of Rs 325 to its promoters Reliance Capital and Aasia Enterprises, bringing in Rs 400 crore; allotment dates are not given in the report. | Private placement | Equity shares | ₹335 | ₹400 Cr | indusindinsurance.com |
| FY2023-24During 2023-24 the company allotted 97,56,097 shares by private placement and 30,10,732 shares on exercise of employee stock options, lifting paid-up capital from Rs 252.07 crore to Rs 264.83 crore; the price was not read. | Private placement | Equity shares | Not stated | Not stated | indusindinsurance.com |
| 30 Mar 202620,000 listed subordinated debentures of Rs 1 lakh each, redeemable 30 March 2036. | Private placement (debt) | Subordinated non-convertible debentures, 10.99% | ₹1,00,000 | ₹200 Cr | indusindinsurance.com |
| 27 Sept 202540,000 listed subordinated debentures of Rs 1 lakh each, redeemable 26 September 2035. | Private placement (debt) | Subordinated non-convertible debentures, 10.99% | ₹1,00,000 | ₹400 Cr | indusindinsurance.com |
Read from: Annual Report 2025-26, Annual Report 2023-24
Leadership
Management
Arun Tiwari
Chairman & Independent Director
Rakesh Jain
Executive Director & CEO
Hemant Jain
Chief Financial Officer
Dr. Thomas Mathew
Independent Director
S.V. Zaregaonkar
Independent Director
Aslesha Gowariker
Additional Director (Independent)
Roopam Asthana
Nominee Director (Non-Executive), from 14 April 2026
Sushil Sojitra
Company Secretary & Compliance Officer
Read from: Annual Report 2025-26
Corporate calendar
Events
- 21 May 2026DividendBoard recommended a dividend of Rs 0.01 per share for 2025-26 and approved the audited accountsOpen
- 30 Mar 2026Debt issueRs 200 crore of 10.99% subordinated debentures allottedOpen
- 18 Mar 2026Board outcomeBoard rescinded a bonus share allotment approved by postal ballot on 8 March 2026 and instead cleared a further promoter equity infusion of up to Rs 300 croreOpen
- 27 Sept 2025Debt issueRs 400 crore of 10.99% subordinated debentures allottedOpen
- 22 Sept 2025Name changeRenamed from Reliance General Insurance Company Limited to IndusInd General Insurance Company LimitedOpen
- 20 May 2025DividendBoard recommended a dividend of Rs 0.01 per share for 2024-25Open
- 19 Mar 2025Change of controlParent Reliance Capital's insolvency resolution completed; IndusInd International Holdings became the ultimate holding companyOpen
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about IndusInd General Insurance Company Limited (formerly Reliance General Insurance) on WhatsAppIs the price shown for IndusInd General Insurance Company Limited (formerly Reliance General Insurance) final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my IndusInd General Insurance Company Limited (formerly Reliance General Insurance) shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell IndusInd General Insurance Company Limited (formerly Reliance General Insurance) shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by IndusInd General Insurance Company Limited (formerly Reliance General Insurance). Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.