New India IPO: Focus on ICICI Lombard

The initial public offering of New India Assurance Company will open for subscription on Wednesday. State-owned NIA launches its ₹9,600-crore IPO in a price band of ₹770-800 a share. The offer will close on November 3. Shares of ICICI Lombard General Insurance Company, the listed peer company, will remain in focus, as its investors study institutional interest, both domestic and foreign, and HNIs’ appetite for the public issue.