Reliance General Insurance Gets IRDA Approval For IPO:
Reliance General Insurance (RGIC), a wholly owned subsidiary of Reliance Capital, has received in-principle approval from the Insurance Regulatory and Development Authority (IRDA) for the process of its proposed IPO.
The company is planning to launch IPO by November.
Reliance Capital is looking to raise Rs 1,500-2,000 crore by diluting upto 25 percent through IPO.
Reliance General Insurance provides a wide range of general insurance products like fire, motor, health, home, crop, travel etc.
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Some SME IPO will also be active in market in coming week.
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