ACKO IPO: ACKO, a digital-first insurer based in Bengaluru, is aiming to list its shares on the bourses. The company has already picked ICICI Securities, Morgan Stanley and Kotak Securities as its book-running lead managers (BRLM) for the proposed IPO.
According to sources, ACKO is aiming for a valuation of about USD 2-2.5 billion for its IPO.
ACKO is likely to file its draft red herring prospectus (DRHP) with SEBI for IPO in the coming months, sources said.
ACKO IPO will comprise a fresh issue of shares and an OFS by existing investors.
ACKO was founded by Varun Dua. The company received its licence in late 2017 and started operations in 2018.
ACKO has raised over USD 583 million in funding from investors, including General Atlantic, Multiples PE, Accel, Elevation Capital and Canada Pension Plan Investment Board.
ACKO operates on a direct-to-consumer (D2C) model, which eliminates the traditional distribution layer.
ACKO has emerged as one of the fastest-growing general insurers in India.
In FY25, ACKO had clocked a revenue of Rs 2,837 crore, up 35 per cent YoY. The company had narrowed its net losses in FY25 by 37 per cent YoY.
