NSE IPO Effect: New India Assurance shares rally 14% on plans to offload over 1 crore shares in blockbuster offer

New India Assurance shares surged over 14% following the National Stock Exchange’s (NSE) filing of its Draft Red Herring Prospectus (DRHP) for its long-awaited Initial Public Offering (IPO). The government-owned insurer will offload over 1 crore shares as part of the offer-for-sale, with seven PSU shareholders divesting nearly 8 crore shares in total.

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