Insurance distribution platform InsuranceDekho and insurtech firm RenewBuy are set to complete their proposed merger within the next few days, paving the way for one of the largest public offerings in India's insurance technology space.
Speaking to NDTV Profit, InsuranceDekho Founder Ankit Agrawal and RenewBuy COO Indraneel Chatterjee said the merger process is in its final stages and is expected to close shortly.
Following the completion of the merger, the combined entity plans to launch an initial public offering (IPO) in FY27, targeting a stock market listing by March 31, 2027.
The company is looking at an IPO size of around Rs 3,500 crore to Rs 4,000 crore. The proposed issue will comprise a mix of a fresh issue of shares and an offer for sale (OFS) by existing shareholders.
The merged entity also plans to file its Draft Red Herring Prospectus (DRHP) by the end of September, marking the next major milestone in its public market journey.
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The merger is expected to create one of India's largest insurance distribution platforms by combining InsuranceDekho's digital insurance marketplace with RenewBuy's strong agency-led distribution network. The combined business aims to strengthen its presence across life, health and general insurance segments while expanding its reach in Tier II and Tier III markets.
The planned public issue comes amid growing investor interest in India's insurance and financial services ecosystem, with digital insurance platforms increasingly looking to tap capital markets to fund growth, expand distribution and invest in technology.
If executed as planned, the IPO would rank among the notable public offerings from the country's insurtech sector in FY27. The company is expected to share additional details on the offering, including financials and valuation, when it files its DRHP later this year.
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