Reliance General Insurance files for IPO, to raise Rs 200 crore

Last Updated: Tue, Feb 12, 2019 17:55 hrs
Reliance General Insurance

Reliance General Insurance Company Limited has filed for initial public offering (IPO) consisting a fresh issue of equity shares worth Rs 200 crore, its parent company Reliance Capital said on Tuesday.

The draft red herring prospectus of Anil Ambani-led company was filed with the Securities and Exchange Board of India (SEBI) on February 8.

The IPO comprises a fresh issue of equity shares aggregating up to Rs 200 crore, and an offer for sale by Reliance Capital Limited of up to 79,489,821 equity shares. The face value of each equity share is Rs 10.

For this proposed IPO, the company has appointed Motilal Oswal Investment Advisors Limited, CLSA India and Credit Suisse Securities (India) as the global coordinators and book running lead managers to the issue. Haitong Securities India, IndusInd Bank Limited and YES Securities (India) Limited are the book running lead managers.

Karvy Fintech Private Limited is the registrar to the offer. The IPO is subject to receipt of requisite regulatory approvals, market conditions, and other considerations.

Reliance General Insurance Company offers a comprehensive and well-diversified range of insurance products in the motor, weather and crop, health, fire and engineering, and marine insurance sectors, as well as in other miscellaneous insurance business lines.