Digital Insurer Acko Moves Closer to India IPO
Acko, India’s digital-first general insurer backed by General Atlantic, Canada Pension Plan Investment Board, and Accel, is preparing for its initial public offering (IPO).
Key Highlights:
- Investment Banks: Kotak Mahindra Capital, ICICI Securities, and Morgan Stanley have been hired as book-running lead managers.
- Target Valuation: Between $2 to $2.5 billion.
- Funding: Over $583 million raised in total investments.
- Growth: Achieved 35% revenue growth in FY25 to Rs 2,837 crore (approximately $340 million) and reduced net losses by 37%.
- Unique Model: Acko operates a direct-to-consumer model, eliminating traditional agents and intermediaries.
- Partnerships: Integrated within platforms like Amazon India and Ola to access large user bases.
- IPO Timeline: Planning to file the draft red herring prospectus confidentially with SEBI in H2 2026; listing targeted for H1 2027.
Background:
Acko received its insurance license in late 2017 and launched operations in 2018. Unlike traditional insurers, Acko focuses on direct-to-consumer sales through digital channels and embedded partnerships within platforms like Amazon India and Ola. This approach has led to significant growth while also positioning the company for a potential listing in one of the world’s busiest IPO markets, India.