IndiaFirst Life Insurance selects bankers for IPO expected later this year

IndiaFirst will be the fourth private sector life insurer to get listed on the bourses

IndiaFirst Life Insurance, a private company promoted by Bank of Baroda, has selected investment bankers for its initial public offering (IPO) expected to hit the capital markets by the end of this year, sources said.

ICICI Securities will be the lead banker and Axis Securities, HSBC Securities, and BNP Paribas Securities among other investment bankers selected for the public issue, said people in the know. IndiaFirst is expected to file its draft red herring prospectus (DRHP) with markets regulator Securities and Exchange Board of India (Sebi) by the next quarter, sources said.

IndiaFirst’s IPO follows the public issue of