MUMBAI: General Atlantic and Accel backed new-age insurer Acko has kicked off its IPO process, appointing Morgan Stanley, ICICI Securities, and Kotak Securities as underwriters. The issue is expected to hit Dalal Street in early 2027, according to sources.
The company is planning to make a confidential filing in the second half of 2025 and is targeting an IPO valuation of $2-2.5 billion, higher than its last valuation of about $1.4 billion. Acko declined to comment on the matter.
After a strong performance last year, India’s IPO market has slowed due to US-Iran tensions causing sharp volatility in stock markets, spooking investors and prompting companies to reassess their IPO timelines. For instance, Walmart’s PhonePe paused its $1.3 billion IPO, while some firms are considering secondary offerings to provide exits to investors, industry executives said.
Acko’s IPO will consist of a mix of fresh issue of shares and an offer for sale (OFS). The company achieved unicorn status in 2021 after raising $255 million from investors at a valuation of $1.1 billion.
Founded in 2016, Bengaluru-based Acko offers a range of insurance services to consumers. It joins startup peers Zepto, Prism, and Razorpay in the IPO queue.
