National Insurance IPO deferred to next financial year

Notably, the IPO of the companies received a lukewarm response from retail investors

Government-owned National Insurance has postponed its initial public offering (IPO) of equity to the next financial year (beginning April 1).
 

Earlier, its offer was expected by March 2018. “The government is more occupied with Budget preparations,” K Sanath Kumar, chairman, told Business Standard.

After the IPOs of New India Assurance (NIA) and General Insurance Corporation (GIC), also government-owned, National Insurance was next. Those prior IPOs, however, got only lukewarm response from small investors. The Kolkata-based insurer had studied how both the IPOs fared and given its assessment to the government.

“We presented the government with various scenarios, as to how much we