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BoB-backed IndiaFirst Life Insurance files DRHP with Sebi for IPO

The IPO will consist of a fresh offer of Rs 500 crore and an offer for sale of 141.2 million shares

IPO, shares, company, firms, market

Subrata Panda Mumbai
Bank of Baroda or BoB-backed IndiaFirst Life Insurance has filed its draft red herring prospectus with the markets regulator Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) this year, which will consist of a fresh issue of Rs 500 crore and an offer for sale of 141.2 million shares.

IndiaFirst Life is the third insurer after Life Insurance Corporation and Go Digit Insurance to file draft papers for an IPO with the markets regulator this year.

Promoters Bank of Baroda (BoB) and Carmel Point Investments Pvt Ltd will sell 89 million shares and 39.22 million

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First Published: Oct 22 2022 | 12:57 PM IST

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