 "IPO")
IndiaFirst Life Insurance, which is backed by Bank of Baroda, has got the market regulator’s approval for its initial public offering (IPO), paving the way for the fourth life insurer to be listed on the bourses.
The private insurer filed its draft papers with Securities and Exchange Board of India to float an IPO in October 2022. ICICI Prudential Life Insurance, HDFC Life Insurance, SBI Life Insurance, and Life Insurance Corporation (LIC) are listed firms.
As per the draft papers, IndiaFirst seeks raising about Rs 500 crore from fresh issue of shares. There will also be an offer for sale
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