InsuranceDekho Said to Pick Banks for $400 Million India IPO

AI Summary

InsuranceDekho’s parent company in India is preparing for a $400 million initial public offering, having selected major banks including HSBC, Morgan Stanley, ICICI Securities, and IIFL Capital as advisors. The IPO ambition reflects expanding investor interest in India's insurance sector. This move could reshape market dynamics in financial services.

Indian insurance aggregator InsuranceDekho’s parent has selected HSBC Holdings Plc, Morgan Stanley, ICICI Securities Ltd. and IIFL Capital Services Ltd. as advisers to a potential initial public offering, according to people familiar with the matter.