Govt may list only 2 insurers on exchanges this yr

IPO is part of the government's plan to list four state-owned non-life insurers and the national reinsurer

Only two out of the five state-owned general insurance companies (GICs) are likely to be listed on the stock exchanges in the current financial year, official sources said.

New India Assurance and GIC Re are gearing up to hit the capital market over the next few weeks. The listing would be done in a staggered manner for better market response, sources said.

The government had estimated to garner about Rs 11,000 crore by diluting its stake in the insurance firms as part of its disinvestment plans for FY18.
 

In view of the current market condition, the government may easily get Rs 15,000