Reliance General Insurance has received in-principle approval from the Insurance Regulatory and Development Authority of India (IRDAI) for its initial public offering (IPO).
The insurance firm, which is a 100 per cent subsidiary of Reliance Capital, is expected to list during the ongoing fiscal. Reliance Capital plans to dilute about 25 per cent of its holding in the insurer. Currently, ICICI Prudential Life is listed on the stock exchange, while Max Life insurance is indirectly listed through holding company Max Financial Venture.
Important Takeaways from Above News-
- T S Vijayan is the Present Chairman of IRDAI.
Source- The Hindu