CNBC-TV18 learns that Reliance Life has approached the Finance Ministry seeking permission to launch an initial public offering (IPO). CNBC-TV18's Avni Raja reports.
Here is a verbatim transcript of Avni Raja's comments on CNBC-TV18. Also watch the accompanying video.
Reliance Life is learnt to have approached the Finance Ministry to seek permission to issue any IPO. Under the current regulations, a company cannot list unless it has been in existence for 10 years - except in case of the central government's permission.
Reliance Life, it learnt, has done that and will be the first insurance company to go public. The other issue that also needs to be clarified is the FIIs' participation in the IPO. Regulation as of now does not have any mention of FIIs. However, the regulator has allowed the entry of private equity in two or three companies on a case-by-case basis. The size of the Reliance Life IPO is expected to be about Rs 3000 crore.
CNBC-TV18 learns that Reliance Life has approached the Finance Ministry seeking permission to launch an initial public offering (IPO). CNBC-TV18's Avni Raja reports.
