Govt to come out with IPO rules for insurers soon

“Rules have to be framed then only any insurance company can float initial public offer  even if it has not completed 10 years of operation clause,” official sources said.

Generally, framing of rules takes three to four months which are vetted by the Law Ministry, sources said. These rules would help companies  to go for capital raising from the public even during the 10-year waiting period. On Reliance Life’s request, sources said the Law Ministry has said there is no problem in allowing an insurance firm to go for an IPO but for that rules have to be in place.