Indian government seeks to raise $1.6bn from insurer IPOs

The Indian government plans to raise 11,000 crore rupees
($1.6bn) by selling stakes in state-owned insurers as part of its
broader divestment strategy.
The government's 11,000 crore rupee target is designed to
help it reach its steep divestment goal of 72,500 crore rupees by
the next fiscal year.
The Cabinet Committee on Economic Affairs has already agreed to
a reduction in the government's stakes in New India Assurance,
United India Insurance, Oriental Insurance, National Insurance and
GIC Re f