(Bloomberg) -- General InsuranceCorp., India’s largest reinsurer, and its owner will seek asmuch as 113.7 billion rupees ($1.7 billion) after setting terms forthe third-biggest initial public offering on record in the SouthAsian nation.
GIC will offer 17.2 million new shares at 855 rupees to 912rupees apiece, according to advertisement published Wednesdayin the Financial Express newspaper. Its only shareholder, theIndian government, will sell as many as 107.5 million shares in theIPO. The offering will open on Oct. 11 and close on Oct. 13.
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