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Reliance Cap eyes strategic investor for life unit

Wed Oct 7, 2009 6:13am EDT

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MUMBAI, Oct 7 (Reuters) - India's Reliance Capital (RLCP.BO), which is planning an IPO for its life insurance business, intends to bring in a strategic investor ahead of its listing, the company's chief executive told Reuters on Wednesday.

Sam Ghosh said the group wants to bring in a foreign insurance company as well as financial investors to buy a roughly 10 percent stake in its life insurance unit, ahead of its listing, which still needs regulatory approval. (Reporting by Tony Munroe; Editing by Ranjit Gangadharan)



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