“Soon we will come out with something,” IRDA Chairman J Hari Narayan told PTI. He was replying to a question on the disclosure norms for insurance companies seeking listing on stock exchanges.
IRDA was also framing the guidelines for M&A of insurance companies to facilitate consolidation in the sector he added.IRDA is working with market regulator Sebi on a set of disclosure norms for insurance companies.
According to the listing guidelines of Sebi, the companies wanting to raise funds from public are required to make various disclosures in the Draft Red Herring Prospectus (DRHP) before hitting the capital market.A joint working group of the representatives of IRDA and Sebi is currently working out the disclosure norms for the insurance companies.
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