New India Assurance IPO receives Sebi's nod

According to the draft papers, the government will sell 9.6 crore
shares, whereas the company itself will sell 2.4 crore shares through
the IPO. Thus a total of 12 crore shares of the non-life insurer would
be sold through the share sale offer, constituting around 14.56 per cent
of the company's post issue share capital.

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