 "New India Assurance aims to launch IPO by September")
State-owned General Insurance Company (GIC) New India Assurance is planning to launch an initial public offer (IPO) by September. With a book value of over Rs 50,000 crore, New India Assurance’s IPO would be the first ever public offering by any non-life insurance company.
Speaking at Business Standard Insurance Round-table, G Srinivasan, chairman, New India Assurance said the public offering is expected to hit the markets in next six months and will comprise of both an offer for sale(OFS) and a fresh issue. While the insurer has already received a nod from the Finance Ministry for the share sale,
Speaking at Business Standard Insurance Round-table, G Srinivasan, chairman, New India Assurance said the public offering is expected to hit the markets in next six months and will comprise of both an offer for sale(OFS) and a fresh issue. While the insurer has already received a nod from the Finance Ministry for the share sale,
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