Sanjay Joshi,CMD Oriental Insurance Company
“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.
New Delhi: Public sector general insurer Oriental Insurance Company, which celebrted its 80th foundation day on last Saturday. is poised to return to profit in 2026-27, helped by planned stake dilution in NSE through initial public offerings opening for subscription later this week.
“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, which has solvency issues, 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.
OIC was one of the initial investors in the National Stock Exchange Ltd, which was incorporated in 1992.
“The insurance landscape is evolving rapidly.Customers expect simplicity, speed,and transparencywhiletechnology and emerging risksare transformigour industry.We must therefore embrace change,adopt new ways of working and continuously improve ourselves,” exhorted Joshi to the employees of the company.