Reliance General Insurance valuation is expected to be over Rs6,000 crore, an average multiple of around five times, merchant banking sources said. Photo: iStockNew Delhi: Reliance General Insurance Company, part of Anil Ambani-led Reliance Group, on Thursday said it has received markets regulator Sebi’s go ahead to float an initial public offering. The IPO comprises fresh issue of little over 1.67 crore shares by Reliance General Insurance besides an offer for sale of 5.03 crore shares by Reliance Capital. At the end of March this year, Reliance General Insurance’s book value stood at Rs 1,250 crore. Reliance General Insurance, which received in-principle approval from insurance sector regulator IRDAI in September for the IPO, expects to get listed in the current financial year.

Source: Mint November 30, 2017 07:41 UTC