IndiaFirst Life IPO: Next IPO Ready..Sebi Green Signal for IndiaFirst Life! – Bank of Baroda backed indiafirst life insurance gets market regulator sebi approval for public issue

The number of companies selling shares through IPO has decreased in recent times. A few months ago the Indian market was flooded with IPOs. But now the number of IPOs has decreased due to the market environment. In this situation, IndiaFirst Life Insurance Company has received approval from the Securities and Exchange Commission (SEBI) to sell its shares through an IPO.

IndiaFirst Life Insurance Company is operating under Bank of Baroda, a public sector bank. 500 crore worth of new shares are going to be sold through this IPO.

So far 14,12,99,422 shares held by promoters and shareholders are being sold through Offer for sale. Bank of Baroda is going to sell 8,90,15,734 shares in this sale. Also, Union Bank of India is going to sell 1,30,56,415 shares. Carmel Point Company is going to sell 3,92,27,273 shares.

Bank of Baroda is the majority shareholder in IndiaFirst Life Insurance Company. Bank of Baroda owns 65% stake in IndiaFirst Life Insurance Company. Next is Carmel Point with 26% share and Union Bank of India with 9% share.

IndiaFirst Life Insurance Company is planning to sell shares worth Rs 500 crore and use the proceeds as capital. The company filed documents for the IPO last October. In this case, SEBI has approved the sale of IPO shares.