In August, the general insurance firm filed draft papers seeking approval from the Securities and Exchange Board of India (SEBI) to go public. The capital markets regulator had sent a written back to the investment bankers handling the IPO for certain clarifications in October and is awaiting a response.
The insurance firm plans to utilise the net proceeds towards augmenting its capital base and maintaining the solvency levels.
Cricketer Virat Kohli and his wife actor Anushka Sharma are among the investors in the firm, according to the draft papers.
IndiaFirst Life Insurance has also received the insurance regulator’s consent for its Rs 500 crore IPO.
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