IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

To be announced

IPO Closing Date

To be announced

Basis of Allotment

To be announced

Initiation of Refunds

To be announced

Credit of Shares to Demat Account

To be announced

IPO Listing Date

To be announced

About Company

IndiaFirst Life Insurance started operating in 2009 as a private life insurance company. 

The Indian private life insurance firm was one of the fastest growing regarding New Business IRP in fiscal 2022. It recorded 27.3% CAGR growth in New Business in IRP for the 5-year period ending in fiscal 2022, against the private life insurance segment’s growth of 13.9% CAGR. 

IndiaFirst Life Insurance is backed by Bank of Baroda - the third-largest public sector bank, and Union Bank of India, the fifth-largest PSU bank. It primarily operates through the expansive bancassurance network, which contributed 91.34% of New Business IRP in fiscal 2022.

IndiaFirst Life Insurance Company Limited IPO Details

India First Insurance IPO is a combination of fresh shares worth Rs. 500 crore and an offer for sale of 14 crore equity shares from selling shareholders. It is a book building IPO, however, the India First Insurance IPO price band is not yet confirmed. 

IndiaFirst Life Insurance Company Limited IPO Objective 

The key objectives of the IPO are the following.

  • The company proposes to utilise the net proceeds from fresh issues to support the solvency level.

Should you invest in IndiaFirst Life Insurance Company Limited?

Here are a few key reasons to consider before investing in the IPO:

  • It offers a diversified product portfolio, catering to its customers’ life insurance needs through various stages of life.
  • IndiaFirst has signed an exclusive bancassurance agreement with BOB and a non-exclusive agreement with the Union Bank of India.
  • New Business IRP through emerging channels has increased at a CAGR of 27.51% from FY 2020 to 2022. 
  • Its product portfolio includes participating and non-participating life insurance and savings products.

Competitive Peers 

The other players in the segment as recognised by the company are SBI Life Insurance Company Ltd., HDFC Life Insurance Company Ltd., and ICICI Prudential Life Insurance Company Ltd.

Noteworthy Highlights of IndiaFirst Life Insurance Company Limited 

  • The Embedded Value (EV) of IndiaFirst insurance has increased from Rs. 1,681.20 crore in 2021 to Rs. 1,865.10 crore in 2022. The registered growth rate is 10.94% CAGR. 
  •  The contribution of non-participating products increased from 15.52% of our New Business IRP in fiscal 2020 to 49.55% in fiscal 2022.

Company Financials

Particulars Year ending on June 30, 2022 (₹ million) Year ending on March 31, 2022 (₹ million) Profit AfteYear ending on March 31, 2021 (₹ million)r Tax
Net premium Earned 8,735.16 49,852.05 39,009.40
Income from Investment 2,037.91 17,291.44 24,373.94
Net Benefits Paid 4,494.12 58,894.01 55,758.07
Surplus 234.12 3,216.17 1,809.78
Profit After Tax 418.27 2,816.20 301.89

Know before investing

Strengths

3

  1. It is one of India's fastest-growing life insurance companies, with a significant market share gain.

  2. It operates through an expansive network of bancassurance of BoB and Union Bank of India.

  3. The company offers a balanced and diversified product portfolio consisting of participating and non-participating products.

Risks

3

  1. Any change in the bancassurance agreement can lead to a decline in performance standards.

  2. Adverse persistency metrics or an adverse variation in persistency metrics could adversely affect the financial condition of the company.

  3. The insurance industry is highly regulated, and failing to comply with the regulations can result in significant penalties.

  • How to Apply in IPO
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IndiaFirst Life Insurance Company Ltd IPO FAQs

What is IndiaFirst Life Insurance Company Limited's IPO?

The IndiaFirst Life Insurance Company Limited  IPO combines fresh issues worth Rs. 500 crore and an offer for sale of equities from an existing shareholder, Bank of Baroda.

When will IndiaFirst Life Insurance Company Limited's IPO allotment be available?

Will be updated soon.

What will be IndiaFirst Life Insurance Company Limited's IPO lot size?

Will be updated soon.

When will IndiaFirst Life Insurance Company Limited's IPO open for subscription?

Will be updated soon.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot.

Will be updated soon.When will IndiaFirst Life Insurance Company Limited list on exchanges?

Will be updated soon.

How do I check the allotment status of the IndiaFirst Life Insurance Company Limited IPO?

It is easy to check the IndiaFirst Life Insurance Company Limited IPO allotment status from Angel One’s mobile app. Log in to the app and validate with an OTP. In the next step, enter your application number, DP ID, and PAN number into the app to check the allotment status.

What would be the listing gains on the IndiaFirst Life Insurance Company Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO shares on the stock exchange.

I have finished the application process for the IndiaFirst Life Insurance Company Limited IPO, but the funds are not yet debited. What is the reason?

The bank will only block the amount in your account. The money will not be debited before the IPO shares are allotted.

How to approve the UPI mandate request for IndiaFirst Life Insurance Company Limited IPO?

You must complete the bidding process by logging in to your UPI handle to approve the payment mandate.