IndiaFirst Life Insurance Company IPO
- Status: Upcoming
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Last Updated: 10 April 2024 3:26 PM by 5Paisa
IndiaFirst Life Insurance Limited's IPO is likely to open in 2024. The company operates in the life insurance sector. The IPO includes a fresh issue of ₹500 cr and an Offer-for-Sale (OFS) of 141,299,422 Equity Shares. The share allotment date and listing date are yet to be announced. The price band and the lot size are yet to be declared.
ICICI Securities Limited, Ambit Private Limited, BNP Paribas, BOB Capital Markets Limited, HSBC Securities and Capital Markets (India) Private Limited, Jefferies India Private Limited, and JM Financial Limited are the book-running lead managers for this IPO, while KFin Technologies Limited is the registrar.
Objectives of IndiaFirst Life Insurance IPO:
● To augment the capital base to support solvency levels.
● To meet issue-related expenses.
IndiaFirst Life Insurance Limited is India’s one of the fastest growing private life insurance companies as of FY22 as per New Business IRP. The company is backed by promoters like the Bank of Baroda. It has a non-exclusive bancassurance relationship with the Union Bank of India. While with Bank of Baroda, the company has an exclusive bancassurance arrangement.
As of June 2022, IndiaFirst Life Insurance has various products including 9 participating products, 6 non-participating protection products, 11 non-participating savings products and 4 unit-linked products, along with 2 riders.
Peer Comparison
● SBI Life Insurance Company Limited
● HDFC Life Insurance Company Limited
● ICICI Prudential Life Insurance Company Limited
Strengths
1. It is one of the fastest-growing private life insurers in India, with consistent market share gain.
2. The company has an expansive bancassurance network through two of the largest public sector banks in India.
3. It has a balanced, diversified and profitable product portfolio.
4. Long-term value creation driven by consistent and profitable financial performance
5. Experienced Promoters and Senior Management.
Risks
1. Any termination or adverse change in bancassurance arrangements can impact the business.
2. The company has to follow strict regulatory requirements.
3. It is subject to periodic inspections by the IRDAI.
4. The company has incurred net loss in the past.
5. The industry is highly competitive
6. It has significant working capital requirements.
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To apply for IndiaFirst Life Insurance IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the IndiaFirst Life Insurance IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
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ICICI Securities Limited, Ambit Private Limited, BNP Paribas, BOB Capital Markets Limited, HSBC Securities and Capital Markets (India) Private Limited, Jefferies India Private Limited, and JM Financial Limited are the book-running lead managers for IndiaFirst Life Insurance IPO.
IndiaFirst Life Insurance will use the proceeds from the offer for:
● To augment the capital base to support solvency levels.
● To meet issue-related expenses.