For equity investors, the drought of investing options in insurance all these years may turn into a flood this fiscal.
At least six firms have lined up initial public offerings (IPOs), five of them state-owned as they look to feed government coffers. The sixth is ICICI Prudential Life, which is poised to realise the value of its more-than-a-decade-old investment.
The combined offerings could raise more than Rs 30,000 crore from the market based on private transactions although valuation details are still sketchy. Investment bankers are yet to be engaged for the sale of stakes in the state-owned companies, said executives at these firms.
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