![Insurance Post](https://www.postonline.co.uk/sites/default/files/styles/print_logo/public/2017-03/print-logo.png?itok=_maJqRIT)
India eyes investment and IPOs for five insurers
![India currency India currency](/sites/default/files/styles/landscape_750_463/public/import/IMG/653/336653/india-rupees-1-580x358.jpeg.webp?itok=hPFM2i_S)
India could launch IPOs for up to five state owned insurers this year.
In its budget published last week the Indian government said it would sell up to 25% stakes in state-owned New India, United India Insurance, Oriental Insurance, National Insurance and reinsurer General Insurance Corp of India in the financial year starting in April.
Bankers expect the sales, which could raise as much as $1.6bn (£1.3bn), to happen by the end of this year.
India's cabinet approved the sales in January, and the government plans to cut their stakes in the insurers to around 75% from 100%.
The Indian government is expected to appoint banking advisers within the next couple of months.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
Most read
- Integration and restructuring costs push RSA to 2023 loss
- Which urges FCA to take action on premium finance following investigation
- Could Jaguar Land Rover issues derail OEM insurance ambitions?