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National Insurance IPO Further Postponed To Next Financial Year
Previous issues of NIA and GIC due to high prices as well as large issue size did not went well with the small investor category as they did not see any huge listing gains from the issue.
National Insurance Company which was expected to open its IPO issue by March 2018 has further deferred its issue to the next financial year and as quoted in one of the leading business dailies report, Chairman of the company cites this postponement on account of government's preoccupation with the Union Budget preparations.
The IPO of this company was to follow the issues of other state-run insurers including GIC and New India Assurance who received lukewarm response from retail investors. Previous issues due to high prices as well as large issue size did not went well with the small investor category as they did not see any huge listing gains from the issue.
Sources at the company also said that since the year saw several insurance IPOs, government seeks a time gap before the next IPO issue by the public-sector insurer.
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