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Reliance General Insurance scraps IPO plan

Oct 31, 2019 14:49 IST

Reliance General Insurance that's part of the Anil Ambani-led Reliance Group, has decided to withdraw its proposed initial public offering or IPO. The issue was looking to raise Rs 200 crore. 

Earlier in October 2017, Reliance General Insurance had approached SEBI with its IPO papers. However, a  lack of investor appetite and volatile equity market conditions had forced the insurer to postpone its plans.