**IndiaFirst Life Insurance Attracts Major Investors Amid Stake Sale**
IndiaFirst Life Insurance has seen a slight increase in its gross direct premium, reaching ₹7,218 crore in FY25, up from ₹6,974 crore the previous year. However, the company’s profit has dipped to ₹102 crore, down from ₹112 crore in FY24.
In a significant development, major financial players including Samsung Life Insurance, Prudential Plc, BNP Paribas, and Norwest Venture Partners are showing interest in acquiring a stake from Warburg Pincus, which currently holds a 26% share in IndiaFirst. This potential transaction is being characterized as a pre-IPO move that could value the insurer at over ₹10,000 crore.
Sources familiar with the situation indicate that Warburg Pincus has engaged Barclays to facilitate the sale process. The discussions are still in the early stages, and it is suggested that Warburg may retain part of its stake if the valuation does not meet expectations. The sale will focus solely on the secondary market, with no new capital infusion required, as the company is not currently seeking additional funding.
IndiaFirst Life Insurance, established in 2009, offers a variety of life insurance products, including term plans and retirement solutions. Its founding shareholders include Bank of Baroda, Andhra Bank (now part of Union Bank of India), and Legal & General Middle East Ltd. Following a series of ownership changes, Bank of Baroda now holds a 65% stake, Union Bank owns 9%, and Warburg Pincus retains the remaining shares.
The company had previously aimed for an IPO in 2022 and received approval from the Securities and Exchange Board of India the following year. However, plans were postponed due to market volatility. Preparations for a potential IPO are expected to commence next year, with a listing possible within six to twelve months, contingent on the company’s growth.
As discussions progress, it appears that the existing promoters are not considering selling their stakes alongside Warburg Pincus, as they remain focused on pursuing an IPO.
**FAQ**
*What is the current status of IndiaFirst Life Insurance’s IPO plans?*
IndiaFirst Life Insurance is considering an IPO, with preparations likely to begin next year, following a delay due to market conditions. A listing could occur within six to twelve months, depending on the company’s performance.
