New-age insurance company Acko is preparing to make a confidential filing for its initial public offering (IPO), aiming to raise around $250 million, according to people familiar with the matter. The upcoming IPO could value the Bengaluru-based insurtech firm at approximately $2–$2.5 billion, reflecting sustained investor confidence in India’s digital insurance and fintech ecosystem.
To move forward with the public issue, Acko has appointed Morgan Stanley, Kotak Securities, and ICICI Securities as book-running lead managers. Furthermore, the company plans to file its draft red herring prospectus (DRHP) before the end of June, thereby advancing its listing timeline in India’s capital markets.
Acko operates as a direct-to-consumer (D2C) digital insurer, offering general, health, and life insurance products while eliminating traditional agents and intermediaries. This model enables cost efficiency, faster policy issuance, and improved customer experience. The company was founded by Varun Dua, who previously built insurance distribution platform Coverfox. Acko secured its regulatory licence in 2017 and subsequently launched operations in 2018, positioning itself as a key player in India’s insurtech space.
Moreover, Acko has attracted strong backing from global and domestic investors, including General Atlantic, Multiples PE, Accel Partners, Elevation Capital, and Canada Pension Plan Investment Board. Collectively, these investors have infused over $583 million into the company, underscoring its growth potential and market relevance.
From an operational standpoint, Acko has demonstrated strong traction across key insurance segments. In FY26, the company underwrote motor insurance premiums worth Rs 1,186 crore and health insurance premiums of Rs 1,235 crore, highlighting its expanding footprint in India’s insurance market.
Financially, the company has shown steady progress toward profitability. In FY25, Acko reported total revenue of Rs 2,887 crore and a net loss of Rs 424 crore, as per filings with the Ministry of Corporate Affairs. However, it significantly reduced its losses from Rs 670 crore in FY24, indicating improved cost efficiencies and scaling of its business model.
As the company moves closer to public markets, its performance will likely serve as a benchmark for other fintech and insurance startups considering listings. If successful, the IPO could further strengthen investor sentiment toward technology-driven financial services and accelerate innovation in India’s insurance landscape.
