News From Press Reliance Insurance plans to file fresh IPO papers with Sebi; regulatory nod set to lapse

Reliance Insurance plans to file fresh IPO papers with Sebi; regulatory nod set to lapse

Source: Financial Express Nov 12, 2018

Reliance General Insurance, part of Anil Ambani-led Reliance, plans to file fresh papers with the Sebi to float an initial share-sale as the regulatory approval for the insurer’s IPO is set to lapse this month, merchant banking sources said. The company failed to tap primary markets as lack of investors’ appetite for the IPO, and volatile equity market conditions forced the insurer to postpone its plans.

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