India - GIC to launch $1.44 billion IPO
Saturday, 06 17 2017, Category: Insurance and Reinsurance, Country: India
The General Insurance Corporation of India (GIC) is expected to launch its $1.44 billion (Rs 9,000 crore) initial public offering (IPO) from September to October, money control news reported.
This represents a 10% company stake sale issue by the Indian government.
The IPO is part of a move to divest following the government’s 2017 Union Budget.