InsuranceDekho targets September DRHP filing for Rs 2,500-3,000 crore IPO
15 Jul 2026, 01:05 PMThe IPO preparations come as InsuranceDekho continues to work on its merger with insurance distribution platform RenewBuy.
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Insurtech platform InsuranceDekho plans to submit its draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) by the end of September, The Economic Times reported citing unidentified people.
The proposed IPO is expected to be combination of fresh issue of shares and an offer-for-sale (OFS) by existing investors amounting to Rs 2,500-3,000 crore.
The company is targeting a valuation of nearly Rs 9,500 crore.
The IPO preparations come as InsuranceDekho continues to work on its merger with insurance distribution platform RenewBuy. The integration process is expected to take another three to four quarters, aligning with the company's broader goal of going public by March 2027. The merger has already received approvals from the Competition Commission of India (CCI) and in-principle clearance from IRDAI, with NCLT approval expected to be sought next.
Founded in 2016 by Ankit Agrawal and Ish Babbar, InsuranceDekho allows users to compare and buy various insurance products, including health, motor and life insurance. The company has also expanded its offerings through a composite broking licence and the launch of its SaaS platform for insurance distributors.
Backed by investors such as Goldman Sachs, LeapFrog Investments, TVS Capital Funds, Avataar Ventures and Investcorp, InsuranceDekho has raised around $430 million to date. The company secured an additional $70 million funding round last year from investors including Beams Fintech Fund, MUFG and BNP Paribas Cardif.
InsuranceDekho's planned listing adds to the growing pipeline of Indian technology startups heading for the public markets.
Last month, another venture capital backed insurtech company Turtlemint got listed on the stock exchanges.
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