The sectoral regulator Irda today said it has finalised the IPO guidelines for insurance companies and has referred the same to the capital markets watchdog Sebi for final approval which is expected soon.”We are expecting the guidelines shortly. We have given our observations. The matter is currently with the Securities and Exchange Board of India (Sebi),” Insurance Regulatory and Development Authority (Irda) chairman J Harinarayan told PTI.
He further said the valuation norms for the companies have been finalised in consultation with the Institute of Actuaries. “Idra, in consultation with the Institute of Actuaries, has given its views on the IPO. Sebi has to clear it now,” he added.
Irda, which has been working on the initial public offer guidelines along with the market regulator Sebi, is likely to come out with a draft for public comments before issuing the final norms.