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New India Assurance IPO Gets Approval From SEBI

New India Assurance IPO Gets Approval From SEBI:

New India Assurance Company Ltd (NIA) has received SEBI approval to float initial public offer (IPO), as per the latest update by the capital markets regulator.

The country’s largest non-life insurer had filed draft prospectus with SEBI in August and received ‘observations’ from it on September 15 that are necessary for an IPO.

According to the draft papers, the government will be selling 9.6 crore shares, whereas the company itself will be selling 2.4 crore shares through the IPO.

Thus a total of 12 crore shares of the non-life insurer would be sold through the share sale offer, constituting around 14.56 per cent of the company’s post issue share capital.

Axis Capital, Yes Bank, Nomura, IDFC Bank and Kotak are managing the company’s IPO.

Market Update:

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Bharat Road Network Ltd IPO (BRNL IPO) lists at 1.54% Premium. While  Matrimony.com Ltd IPO (Matrimony IPO) listed at 8.51% discount.

Now Capacit’e Infraprojects Ltd IPO (CIL IPO) lists at 36.96% Premium.

ICICI Lombard General Insurance Company IPO also able to lists successfully at 3.1% Premium.

SBI Life Insurance Company Ltd IPO bidding going to start from September 20, 2017 – September 22, 2017. While SBI Life Insurance IPO Grey Market Premium (GMP) is trading between Rs 23 – Rs 25 per equity share.

Prataap Snacks Ltd IPO (PSL IPO) is going to be active in market from September 22, 2017 – September 26, 2017. Prataap Snacks Ltd (PSL) IPO Grey Market Premium (GMP) is trading between Rs 210 – Rs 230 per equity share.

Godrej Agrovet Ltd IPO (GAL IPO) bidding going to start from October 04, 2017 – October 06, 2017.

While Godrej Agrovet Ltd (GAL) IPO Grey Market Premium (GMP) is trading between Rs 115 – Rs 125 per equity share.

Now MAS Financial Services Ltd IPO (MFSL IPO) is going to hit market from  October 06, 2017 – October 10, 2017.

While MAS Financial Services Ltd (MFSL) IPO Grey Market Premium (GMP) is trading between Rs 18 – Rs 20 per equity share.

Indian Energy Exchange Ltd IPO (IEX IPO) is also going to be active from October 09,2017 – October 11,2017.

While Indian Energy Exchange Ltd (IEX) IPO Grey Market Premium (GMP) is not trading as of now.

Some SME IPO will also be active in market in coming week.

This year we can see some good IPO hitting market like NSE Ltd IPOHDFC Standard life insuranceSBI life insurance IPO etc.

Keep watching this blog to keep yourself updated with all the news.

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