India’s insurance regulator will come out with standardised method for valuation of insurance companies to enable them to go for initial public offering of shares in a couple of weeks, a top official said on Friday.
“We are working with SEBI to find ways and methods of how insurance companies can be valued and it will be available in a couple of weeks,” J.Hari Narayan, chairman of Insurance Regulatory Development Authority (IRDA), said in a conference.
Indian laws currently permit insurance companies to go for IPOs only after 10 years of operation.
Both the regulators – IRDA and SEBI – are also working on disclosure norms in prospectus of insurance companies going for IPOs, Narayan said.
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