, India
140 views
Stock photo. Credits to Unsplash.

IndiaFirst Life Insurance files for IPO

The public issue consists of a fresh issue of equity shares worth up to $60m

Bank of Baroda-backed IndiaFirst Life Insurance has filed a draft red herring prospectus to the Securities and Exchange Board of India to launch an initial public offering.

According to the draft prospectus, the issue includes a fresh issue of up to $60m along with an offer for sale (OFS) of up 141,299,422 equity shares by the promoters and existing shareholders of the company.

Bank of Baroda will sell 89,015,734 equity shares whilst the Union Bank of India will sell 1,30,56,415 equity shares in the OFS. Meanwhile, Carmel Point Investments India Private Limited will sell 39,227,273 equity shares.

ALSO READ: India insurance regulator proposes to allow private equity funds in insurance

The offer is being made through the Book Building Process, wherein not less than 75% of the offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the offer shall be available for allocation to Retail Individual Bidders.

The proceeds from the fresh issuance will be used towards augmentation of IndiaFirst Life’s capital base to support solvency levels.

Prudential, StanChart memperkuat 25 Tahun kemitraan bancassurance

Mereka memiliki kemitraan bancassurance terlama di Singapura dan Asia.

MSIG Asia dan RiskPoint mempertaruhkan asuransi energi terbarukan

Kawasan Asia-Pasifik berpotensi menarik investasi sebesar $3 triliun dalam pembangkitan listrik hingga 2033.

Kantor pusat Pru Life UK di Manila menerapkan kerja hibrida

Kantor ini memiliki area rekreasi dan kesehatan untuk membantu karyawan menyegarkan diri.

Etiqa meluncurkan produk asuransi takaful pertama di Singapura

Permintaan terhadap produk keuangan Islam dari Timur Tengah dan Asia Tenggara terus meningkat.

Perusahaan asuransi jiwa Singapura bidik pertumbuhan di 2025

Dorongan untuk solusi layanan kesehatan inovatif di tengah inflasi medis menjadi tantangan.