The GIC of India IPO is the latest in a line of insurance firms, ICICI Lombard and SBI Life Insurance, that have filed IPO papers to go public. Photo: Abhijit Bhatlekar/MintMumbai: State-owned reinsurance company General Insurance Corp. of India (GIC) on Monday filed the draft red herring prospectus (DRHP) for its initial public offering (IPO). The IPO is likely to raise over Rs10,000 crore, at least two people aware of the plans said, requesting anonymity. If GIC goes for a Rs10,000-crore IPO, it will be the second largest public offering in India. Another state-owned insurance firm New India Assurance Co. Ltd is also expected to file its draft IPO document soon.

Source: Mint August 07, 2017 21:22 UTC