New Delhi: India’s state-run New India Assurance Co. Ltd has set a price band of Rs770-800 a share for its initial public offering (IPO) opening on 1 November, people familiar with the deal told Reuters on Tuesday.
At the upper end of the price range, the IPO would raise Rs9,600. The sale will close on 3 November, said the sources, declining to be identified as the details are not public.
Recently, the company’s top management had completed the overseas road shows and had seen robust response for the issue, according to PTI. The company had appointed Kotak, Axis Bank, Nomura, IDFC and Yes Bank for the IPO.