Reliance General Insurance gets approval for IPO.
Global Banking News-November 30, 2017--Reliance General Insurance gets approval for IPO
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Global Banking News - 30 November 2017
India-based Reliance General Insurance has said that it has received approval from regulators for an IPO.
The IPO would see the firm offering more than 16.7 million shares besides an offer for sale of 50 million shares by Reliance Capital, the parent firm of the company.
The proceeds from the IPO are to be used for enhancing its solvency margin and increasing the solvency ratio.
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