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New India Assurance Rs 9,600 cr IPO opens Nov 1, price band: Rs 770-800

The company's initial share sale will close on November 3

Reuters  |  Mumbai 

India's state-run New India Assurance Co Ltd has set a price band of Rs 770 to Rs 800 a share for its initial public offering (IPO) opening on November 1, sources with direct knowledge of the deal told Reuters on Tuesday. At the upper end of the price range, the IPO would raise Rs 9,600 crore ($1.48 billion). The sale will close on November 3, said the sources, declining to be identified as the details are not public.   ($1 = Rs 64.9825)

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First Published: Tue, October 24 2017. 14:40 IST