CNBC-TV18 learn from the sources that the government is looking to fast track its divestment when it comes to New India Assurance.
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By way of this divestment the government intends to sell about 10 percent stake held by the government into the company through an offer for sale and this the government intends to do by September of this year.
As far as shareholding pattern for New India Assurance is concerned, slightly above 85 percent is held by the government, a major chunk of the balance stake is held by LIC and public is about 6-7 percent.
Watch the accompanying video of CNBC-TV18’s Yash Jain for more details.