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The Bengaluru-based startup will use the fresh capital to strengthen its underwriting, actuarial, catastrophe modelling, and AI capabilities.
The latest sale follows another transaction in June, when Peak XV divested 33.33 lakh shares of Go Digit for around Rs 100 crore.
The company's loss ratio increased to 73.3% during the quarter from 70.3% a year ago.
The startup will use the fresh capital for product development, AI and machine learning engineering, customer acquisition, go-to-market expansion, and working capital requirements.
For the fourth quarter of FY26, the company posted its first-ever quarterly net profit of Rs 3.1 crore but the profit included a deferred tax asset of Rs 8.2 crore.
The IPO preparations come as InsuranceDekho continues to work on its merger with insurance distribution platform RenewBuy.
The company’s Rs 883 crore public issue, priced between Rs 144 and Rs 152 per share, was subscribed just 1.2 times.
The company allotted 2.61 crore equity shares to anchor investors at Rs 152 apiece, the upper end of its IPO price band.
The company has fixed the price band at Rs 144-152 per share for the issue.
Among the buyers, Aditya Birla Sun Life Mutual Fund picked up 21.66 lakh shares worth nearly Rs 65 crore.
The company has appointed Apoorv Kalra, formerly with Junglee Games, to lead its automobile insurance business, while ex-Meta executive Kunal Kapur will head the health insurance vertical.
The Bengaluru-based company said the initiative will benefit 199 individuals, including 73 existing employees and 126 former team members.
The approval for the stock broking business covers fixed-income instruments like corporate bonds, government securities, and treasury bills.
The company's net profit increased to Rs 261 crore in during the quarter from Rs 170 crore in Q4 FY25.
Acko's Chief Marketing Officer Ashish Mishra has also quit the company.
The public offering comes amid a broader wave of new-age listings, where public markets have increasingly doubled up as liquidity events for early investors.
The startup had raised $386,000 from Antler and Shastra VC at the pre-product and pre-business stage.
The order, issued on March 26 under Section 26(3) of the Act, pertains to the adjudication stage of proceedings against alleged benami properties.
Existing investor Tanglin Venture Partners and new investor GMO Venture Partners participated in the funding round.
