Reliance General Insurance files for IPO

India’s Reliance General Insurance Co Ltd has filed for an initial public offering (IPO) consisting of a fresh issue of shares worth up to 2 billion rupees ($28.15 million), parent Reliance Capital Ltd said on Tuesday.

The IPO will also include an offer by Reliance Capital to sell up to 79.5 million shares, Reliance Capital said here.

The private sector insurer has appointed Motilal Oswal Investment Advisors Ltd, CLSA India Pvt Ltd and Credit Suisse Securities (India) Pvt Ltd as the global coordinators and book running lead managers to the issue.

Haitong Securities India Pvt Ltd, IndusInd Bank Ltd and YES Securities (India) Ltd are the book running lead managers.