India: Reliance Capital eyes stake sale in insurance unit in current fiscalReprints
India-based Reliance Capital Ltd. will look to sell part of its stake in its wholly-owned unit Reliance General Insurance Co. Ltd. during the current fiscal year, reports The Hindu Business Line.
Reliance Capital had eyed a stake divestment in the insurer in the previous fiscal, though nothing materialized.
The insurer's gross written premiums for the year ended Mar. 31 2014 totaled 24.42 billion Indian rupees ($406.8 million), up 20% year on year, The Hindu Business Line reported.