From August 20, Reliance Life Insurance will be issuing initial public offerings (IPOs).
The company is issuing 6.3 million units of shares for Rs 630 million, according to the corporation.
There are 5,670,000 units for the general public, 315,000 units for the collective investment fund (CIF), and 315,000 units set aside for the company’s employees.
Reliance is selling its 30% stake in the company for Rs 2.1 billion in paid-up capital.
The initial public offering (IPO) will begin on August 20 and end on August 24.
Sanima Capital has been entrusted with the role of issue manager by Reliance.