 "Illustration: Ajay Mohanty")
After the initial public offerings of General Insurance Corp and New India Assurance last year, the Centre is planning to reduce its stake further in the two companies with offers for sale later this year, Business Standard has learnt.
Additionally, the Centre’s plans to merge National Insurance, Oriental Insurance and United India Insurance and list the merged entity on the bourses has effectively been put on the backburner for now, with officials saying that just merging the three companies will be a time-consuming process.
GIC Re’s IPO was carried out in October and was then India’s third-biggest IPO.
It was
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