India - raising $1.7 billion from state-run reinsurer
Friday, 10 06 2017, Category: Insurance and Reinsurance, Country: India
State-run reinsurer General Insurance Corp of India’s (GIC Re) initial public offering of shares next week seeks to raise as much 113.7 billion rupees ($1.7 billion) in what will be India’s second-biggest IPO.
GIC Re set a price range of 855-912 rupees a share for its IPO that will run from Oct. 11-13, according to a public notice on Wednesday. At the upper end of the price range, the IPO would raise 113.7 billion rupees ($1.7 billion).