Anil Ambani's Reliance General Insurance files for IPO again
Photo Credit: VCCircle

Reliance General Insurance Company Ltd has again filed draft documents for an initial public offering, less than three months after regulatory approval for its previous proposal lapsed.

The wholly owned unit of Anil Ambani-led Reliance Capital Ltd filed the draft red herring prospectus for an IPO with the Securities and Exchange Board of India (SEBI) on February 8.

The IPO comprises a fresh issue of shares aggregating up to Rs 200 crore and an offer for sale by Reliance Capital of up to 79.5 million shares, the financial services company said in a stock-exchange filing on Tuesday.

Reliance General Insurance had first filed its draft IPO prospectus in October 2017 and got the green light the following month. It put off plans to go public late last year.

For the fresh IPO attempt, the company has appointed Motilal Oswal Investment Advisors Ltd, CLSA India Pvt. Ltd and Credit Suisse Securities (India) Pvt. Ltd as the global coordinators and book running lead managers to the issue. Haitong Securities India Pvt. Ltd, IndusInd Bank Ltd and YES Securities (India) Ltd are the book running lead managers. 

The IPO is subject to receipt of requisite regulatory approvals, market conditions and other considerations, Reliance Capital said.

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