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Won't comment on OFS timeline as government has better macro view: New India Assurance

videos | Nov 17, 2020 4:58 PM IST

Won't comment on OFS timeline as government has better macro view: New India Assurance

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Atul Sahai, CMD of New India Assurance declined to comment on the Offer For Sale timeline, as he felt the government had a better macro view.

Atul Sahai, CMD of New India Assurance declined to comment on the Offer For Sale timeline, as he felt the government had a better macro view.

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The government is set to offer 10 percent stake in New India Assurance via offer for sale (OFS) but the management of the company feels that the company's shares are underpriced at a time when government is looking at this offer.
Speaking in an interview to CNBC-TV18, Sahai said, “The government is keen to start the process. As far as I understand it is incumbent on us as per SEBI provisions and regulations.”
He further said that as per minimum public shareholding, the government needs to offload 10 percent stake in the company.
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