The Insurance Regulatory and Development Authority (Irda) issued the initial public offering (IPO) regulation for life insurance companies on December 1, 2011, based on the Gazette notification of November 14, 2011. The regulation enables those life insurance companies that have completed 10 years of operation to increase equity capital under ICDR (Issue of Capital and Disclosure requirements) Regulation, 2009, of the Securities and Exchange Board of India (Sebi), either through fresh issue of equity capital or divestment of equity by one or more of the promoters through a public offer for sale. The insurance company has to get the approval of Irda before applying to Sebi.
Source: Financial Express
No comments:
Post a Comment