New India Assurance looking for merchant bankers to manage IPO
Tuesday, March 28, 2017, 12:01 PM
State-run insurer New India Assurance Company is looking for merchant bankers to manage its disinvestment through an IPO. Within a week of PSU reinsurer General Insurance Corporation floating an RFP for merchant bankers, the New India Assurance (NIA) has asked bankers to submit their bids by April 19. Merchant bankers would advise New India on the timing and the modalities of the IPO.