Reliance General Insurance IPO by FY18-end

Reliance Capital to dilute 10% stake

The Anil Ambani-controlled Reliance Capital will float an iniitial public offering (IPO) of equity for its general insurance arm and list on the stock exchange. This could give the company a valuation of Rs 6,000 crore.

Reliance General Insurance is targeting an IPO by the end of this financial year. It might also look for a strategic partner.

Fully owned by Reliance Capital, it is planning to dilute 10 per cent of its shareholding in 2017-18. In the next three years, to dilute 25 per cent.
 

Rakesh Jain, executive director and chief executive, said listing would enable individual investors to participate in