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"We are targeting to make some profit this year...the proceeds from the NSE IPO would be booked as profit. It will improve the company's financials. Besides, it is going to provide liquidity," Oriental Insurance Company Chairman and Managing Director Sanjay Joshi told PTI. The company is only diluting a small portion of its holding in the NSE through the upcoming IPO, he said, adding about 49.57 lakh shares have been put on offer. Oriental Insurance Company Ltd holds 3.52 crore shares in the country's biggest bourse, the NSE, as of June 30, 2026. In percentage terms, it has a 1.42 per cent stake in the NSE. At the upper price band of Rs 1,785 per share, Oriental Insurance Company would realise Rs 885 crore while at the lower price band of Rs 1,700 per unit, it would pocket about Rs 843 crore. Oriental Insurance Company Ltd was one of the initial investors in the National Stock Exchange Ltd, which was incorporated in 1992. Once it is listed, Joshi said, the value of the remaining holding in NSE can be used to calculate the company's solvency. He said it is expected to improve the company's solvency. The Rs 22,569-crore IPO will open for subscription on September 17, making it the country's second-largest public issue after Hyundai Motor India's Rs 27,870-crore offering in 2024. The issue closes on September 21. The IPO comes nearly a decade after NSE's plans to go public were stalled amid regulatory hurdles. With the Sebi clearance now in place, the exchange is set to make its market debut on September 24. Meanwhile, Oriental Insurance Company Ltd celebrated its 80th foundation day. The company was founded on September 12, 1947, less than a month after India gained independence. On the occasion, the company launched a range of innovative products and initiatives for its customers. For the financial year ended March 2026, Oriental Insurance's gross premium crossed Rs 20,000 crore. The development signifies the growing trust of policyholders, intermediaries, and stakeholders in the company in particular and public sector insurance institutions as a whole. The achievement aligns with the government's broader objective of promoting financial inclusion and ensuring wider access to risk protection mechanisms. This growth has been driven by robust contributions from the Group Personal Accident (GPA), Health, Fire, and Motor insurance portfolios. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-09-14 02:48