Reliance Capital is planning to make the first ever IPO (initial public offer) by an insurance company in India. Reliance Capital IPO is planning to take its subsidiary Reliance Life Insurance public. The company plans to divest 26% in its insurance arm through an IPO. Relaince capital Ipo is looking to divest 10-26%. This would be done through a strategic investor or by the selling of its shares to the public. The funds will be injected to Reliance capital and its life insurance business. The process is expected to complete in the next three to four months time frame.