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Monday, 12 July 2010 12:20 |
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IRDA CLEARS IPO NORMS; SEBI NOD EXPECTED SHORTLY
New Delhi, July 12, 2010
Hindustan Times
The sectoral regulator Irda on Sunday said it has finalised the IPO guidelines for insurance companies and has referred the same to the capital markets watchdog Sebi for final approval, which is expected soon.
“We are expecting the guidelines shortly. We have given our observations. The matter is currently with the Securities and Exchange Board of India (Sebi),” Insurance Regulatory and Development Authority (Irda) chairman J Harinarayan said. He said the valuation norms for the companies have been finalised in consultation with the Institute of Actuaries. “Irda, in consultation with the Institute of Actuaries, has given its views on the IPO. Sebi has to clear it now,” he added. Several private sector insurers, including Reliance Life, have shown interest in tapping the capital market to augment their resource base.
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