New India Assurance targeting $1.5bn IPO

India's largest general insurer, the state-owned New India
Assurance (NIA), is understood to be targeting an IPO that will
raise some $1.5bn, according to reports.
Local media have suggested that NIA has appointed Kotak, Axis
Bank, Nomura, IDFC and Yes Bank as advisers on the deal, which is
set to remain open for subscription from 1-3 November, according to
its regulatory filing.
NIA has not responded to invitations to comment, with official
confirmation of the details of the offer expected...