InsuranceDekho Plans ₹2,500-₹3,000 Crore IPO; SEBI Filing Targeted By September
- By Kotak News Desk
- 14 Jul 2026 at 11:14 AM IST
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InsuranceDekho is planning to file its draft IPO papers with SEBI by September, targeting a listing by March 2027 and a valuation of around ₹9,500 crore. The issue is expected to raise ₹2,500 to ₹3,000 crore through a mix of fresh shares and an offer for sale. Read ahead to know more.
Gurgaon-based insurance distribution platform InsuranceDekho is working towards filing its draft red herring prospectus with SEBI by the end of September, with plans to raise ₹2,500 to ₹3,000 crore through an initial public offering.
The company is targeting a listing by March 2027 at a valuation of around ₹9,500 crore, according to the Economic Times report. The final size, structure and valuation may change depending on market conditions.
Issue Structure And Investors
The initial public offering (IPO) is expected to include a fresh issue of shares and an offer for sale (OFS) by some of the company's earliest institutional investors, with the fresh issue component likely to be the larger of the two. TVS Capital Funds, Investcorp and Avataar Venture Partners are among the early investors in the company. InsuranceDekho does not plan to raise a pre-IPO round ahead of the public issue. HSBC, Morgan Stanley, ICICI Securities and IIFL Capital Services are working on the issue.
Fresh issue proceeds are expected to be deployed towards technology investment, acquisitions and expansion into adjacent financial services businesses.
The RenewBuy Merger
The IPO plans are being pursued alongside InsuranceDekho's pending merger with rival insurance distribution platform RenewBuy. The Competition Commission of India cleared the merger in November 2025, and the Insurance Regulatory and Development Authority of India gave in-principle approval in March 2026. The merger scheme is expected to be filed with the National Company Law Tribunal shortly.
The share-swap transaction valued the combined entity at ₹7,400 crore at the time of the merger agreement, with InsuranceDekho valued at ₹5,400 crore and RenewBuy at ₹1,800 crore.
Business At A Glance
Pro-forma numbers for the combined business show gross written premium reached approximately ₹6,700 crore in FY26, six times the FY21 level. The platform had 4.97 lakh advisors, served more than 19,000 pin codes and had cumulatively insured 2.33 crore customers.
Around 87% of premium came from tier-II cities and beyond, with non-motor products accounting for 21% of the business. The combined entity reported business-level profitability in FY26, while standalone InsuranceDekho turned profitable in the final two quarters of the year.
The IPO comes after rival Turtlemint's ₹883 crore IPO was listed in June at an 11% discount to its issue price.
Also Read- SBI Funds Management IPO Opens Today: All You Need To Know
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