New Delhi, Sept. 9 -- The New India Assurance Company on Wednesday, 9 September, said it will divest 1.05 crore shares of the National Stock Exchange of India (NSE) through the proposed NSE IPO. The proposed divestment represents 29.83% of the total shares held by the company in the National Stock Exchange of India.

The New India Assurance Company will offload its NSE shares in an offer for sale, which, as per reports, is to be launched this month.

In an exchange filing during market hours on 9 September, The New India Assurance Company said: "We wish to inform you that The New India Assurance Co. Ltd. proposes to divest 1,05,00,000 equity shares of the National Stock Exchange of India Ltd. (NSEIL)."

"This proposed divestment represent...