IndiaFirst Life Insurance Company has been in the headlines for its IPO release since March 2023. The estimated IPO release was said to be in November. Now everyone is curious to know IndiaFirst Life Insurance IPO price band, important dates, and drhp details. The Company is considered India’s top Life Insurance company. It deals in term insurance, pensions, child plans, and other types of plans for individuals. The company was profitable in the last year as well. Let us explore more about IndiaFirst Life Insurance Company IPO below. The company filed draft papers in October 2021 which was observed by SEBI.
IndiaFirst Life Insurance IPO Price Band, Important Date, Issue Size
The first and most important question about Indiafirst Life Insurance is its release date. The company has not released any official IPO opening and ending date yet. The predictions were made about the IPO release in November month. However, no release date has been announced. India First Life Insurance will issue fresh equity shares of Rs. 500 crores and OFS up to 141,299,422 equity shares. The two promoters of the company are Bank of Baroda and Union Bank Of India. Bank of Baroda is said to offload 89 million equity shares along with Union Bank Of India offloading 13 million equity shares. Carmel Point Investments India Priavte Limited will be tendering 39 million equity shares.
The company is said to be performing quite well and is profitable. It earns the Q1 earnings of the previous year of around 88,735.16 crores. The net profit will be 418.27 million. The company has a PAT( profit after tax) of Rs. 2,816.20 million and Rs. 301.89 million in 2021. The estimated IPO release of IndiaFirst Life Insurance Company is said to be by December month. However, there has not been any official announcement yet. Let us have a look at the company’s profile below.
IndiaFirst Life Insurance Company deals in Insurance policies, pensions child plans, and other services. The company has been successfully running since 16 November 2009. The company aims to assure the customers at the time of uncertainty. It has been successfully growing over the years. It is a public company with major shareholders as Bank Of Baroda, Andhra Bank, and Legal & General Middle East Limited. Rushabh Gandhi is the current Deputy CEO of the company. The industry is majorly dominated by LIC but they also give a good competition through its plans.