New Delhi: New India Assurance (NIA), the biggest general insurance agency in India, will hit the capital markets on November 1 to raise an expected Rs 10,000 crore through IPO, trader keeping money sources said.
The organization’s underlying offer deal will close on November 3, they included. The IPO involves offer of 9.6 crore shares by the administration, other than crisp issue of 2.4 crore shares.
Along these lines a sum of 12 crore offers of the non-life safety net provider would be sold through the offer deal offer, constituting around 14.56 for every penny of the organization’s post issue share capital.
The correct sum and estimating for the underlying open offer (IPO) will be reported by the organization tomorrow. New India Assurance is relied upon to list on the stock trades on November 13, shipper managing an account sources said. As of late, the organization’s best administration had finished the abroad street appears and seen strong reaction for the issue.
Pivot Capital, Yes Securities, Nomura Financial Advisory and Securities (India) Pvt Ltd, IDFC Bank and Kotak Mahindra Capital Company are dealing with NIA’s IPO.
Right now, ICICI Prudential Life Insurance and SBI Life Insurance are the main recorded safety net providers in the nation. General Insurance Corporation of India, which as of late finished up its Rs 11,370 crore IPO, will list on the trades tomorrow.
A portion of the other safety net providers’ open issues, which are probably going to hit the road in not so distant future, incorporate HDFC Life, Reliance General and National Insurance Company.