In less than three weeks, three insurance firms, including HDFC Standard Life, have filed draft papers for IPOs that together are estimated to be worth nearly Rs20,000 crore.
With the IPO market bustling with activity, two government-owned entities—New India Assurance and General Insurance Corporation of India (GIC)—have joined the bandwagon this month. The public sector insurers are expected to hit the market in the current financial year to help the government meet its ambitious disinvestment target of Rs72,500 crore.
Amid persisting bullish market sentiments, despite intermittent volatility, around two dozen companies have filed preliminary papers for initial public offers (IPOs) with regulator Securities and Exchange Board of India (Sebi) so far this year.
