Reliance Capital has filed an application with insurance regulator IRDAI for selling up to 25 per cent stake in its general insurance arm RGIC to raise about Rs 1,500-2,000 crore.
Reliance General Insurance (RGIC) is the fourth general insurance company to have announced its intentions to list in the stock exchanges.
Sources said Reliance Capital has filed application with the Insurance Regulatory and Development Authority of India (IRDAI) for the IPO of RGIC.
RCap currently owns 100 per cent of RGIC and the company is seeking approval to sell up to 25 per cent in the initial public offering, they said.
