NIA’s ₹10,000cr IPO to hit market in first week of Nov

MUMBAI: New India Assurance (NIA), the largest general insurance company in the country, is set to hit the capital markets with around ₹10,000 crore IPO in the first week of November. The offer comes soon after the ₹11,370 crore IPO of GIC Re, which will be listed on October 25. It has already been oversubscribed by over 1.35 times. The street has seen a couple of more IPOs in last one and half months, which include ICICI Lombard and SBI Life. The IPO of the insurance multinational having operations in 28 countries will be completed in the first week of November, government people with knowledge of the matter told PTI.