Regulator Approves IPO Guidelines for India's Insurers

India's Securities and Exchange Board of India (Sebi) has cleared the guidelines for IPOs by life insurance firms, but did not approve modifications in the takeover code, reports Livemint.

 

Citing the new guidelines, Livemint says domestic life insurers will be required to disclose risk factors specific to insurance companies and an overview of the insurance industry in general, while raising money through a public issue.

 

Life insurers will also be required to disclose financial information in the formats specified by the Irda (Insurance Regulatory and Development Authority) and disclose the glossary of terms used in the insurance sector, says Livemint.

 

Livemint notes the final IPO guidelines will be issued by Irda after taking Sebi’s recommendations into consideration.
 

 

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