Remember, Nomura and UBS had recently downgraded Indian equities owing to similar reasons.
The change in stance has coincided with the latest round of correction in the domestic market.
The IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale of Rs 1959.72 crore by existing promoters and shareholders.
Yesha Shah, who is head of equity research at Samco Securities, says the firm commands 93.4% market share in digital insurance market.
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