Reliance General Insurance Files Draft Prospectus With SEBI For An IPO
.jpg?downsize=1010:568 "Reliance General Insurance Files Draft Prospectus With SEBI For An IPO")
Reliance General Insurance Ltd. filed its draft prospectus with the Securities and Exchange Board of India for an initial public offer through which it plans to sell up to 6.71 crore shares.
The offer will include a fresh issue of up to 1.7 crore shares and an offer for sale of up to 5 crore shares by Reliance Capital Ltd., the company said in a statement.
ICICI Lombard General Insurance Company was the first general insurer to list so far this year. India's largest general insurer New India Assurance Company has also filed for a Rs 10,000 crore IPO while General Insurance Corporation of India is looking to raise Rs 11,370 crore through its offer which opens on October 11.
Reliance General Insurance will use the proceeds of the issue to augment the solvency margin and consequently increase the solvency ratio and to meet future capital requirements which may arise out of growth, the private insurer said.
Motilal Oswal Investment Advisors Ltd., Credit Suisse Securities (India), Edelweiss Financial Services, UBS Securities India, Haitong Securities India and IDBI Capital Markets & Securities will manage the issue.
Shares of parent company, Reliance Capital, rose as much as 3.9 percent to Rs 574 after the announcement.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
