The Rs9,600-crore New India Assurance IPO will be launched on 1 November. Photo: Hemant Mishra/MintMumbai: State-owned general insurer New India Assurance Co. Ltd (NIA) on Wednesday said it will launch its Rs9,600 crore initial public offering (IPO) on 1 November. It is the second largest this year after General Insurance Corp. of India Ltd’s Rs11,372 crore IPO. The insurance company has set a price band of Rs770-800 per share for the IPO, which values it at Rs64,392-67,940 crore. Incorporated in 1919, NIA offers insurance products in key business verticals such as fire insurance, marine insurance, motor insurance, crop insurance and health insurance.

Source: Mint October 25, 2017 13:52 UTC