Question
Which private sector insurer , is set to incorporate a
not-for-profit company for housing the Bima Sugam platform - ‘Rashtriya Bima Sugam Nigam’ the cost of transaction of which is proposed to be up to 10,000 equity shares with a face value of Rs 10 each for cash at par?Solution
ICICI Prudential Life Insurance, a private sector insurer, is set to incorporate a not-for-profit company for housing the Bima Sugam platform - ‘Rashtriya Bima Sugam Nigam’. The cost of the transaction is proposed to be up to 10,000 equity shares with a face value of Rs 10 each for cash at par, aggregating to 8.33 per cent of the initial issued and subscribed share capital in the First Tranche.
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