Swipe through the latest business and wealth clues with our android app

Reliance Insurance files fresh IPO papers, removes Edelweiss as merchant banker

Reliance General Insurance, part of Anil Ambani-led Reliance Group, has filed fresh draft papers with the SEBI for its IPO after the regulatory approval lapsed in November. The firm had earlier filed its prospectus in October 2017 and received SEBI nod in November 2017. The regulator’s approval for IPOs is valid for one year, which expired on November 29, 2018. The company’s IPO comprises fresh issue of shares worth Rs 200 crore, and an offer for sale of 7.94 crore shares by Reliance Capital. The company has removed Edelweiss as one of the lead merchant bankers to manage its IPO.

Read More at Bloomberg Quint News date : 12 Feb 2019, Tuesday

©2019 TheNewsClues