ICICI Pru Life files for India's 1st insurance IPO
ICICI Prudential Life Insurance has filed for an initial public offering of shares, a draft prospectus released on Monday said, which will be India's first insurance sector IPO. It could reportedly raise around ₹5,000 crore, the biggest local IPO in six years. India's ICICI Bank, holding nearly 68% of the insurer, will sell up to181.34 million shares.