Key Points
Life insurance major IndiaFirst Life Insurance Company received final approval from Securities and Exchange Board of India (Sebi) to float an initial public offering to raise funds..
The issue will comprise a fresh issue of equity shares worth Rs 500 crore and an offer-for-sale (OFS) up to 14.1 crore equity shares from promoters and stakeholders..
Additionally, Carmel Point Investments India, owned by private equity funds managed by Warburg Pincus, bought a stake in the life insurance firm...
In the OFS component of the IPO, Bank of Baroda will offload about 8.9 crore equity shares, while Carmel Point Investments India Private Limited will tender 3.9 crore equity shares and 1.3 crore equity shares will be sold by Union Bank of India..
ICICI Securities Limited, Ambit Private Limited, BNP Paribas, BOB Capital Markets Limited, HSBC Securities and Capital Markets (India) Private Limited, Jefferies India Private Limited and JM Financial Limited are the book running lead managers and KFin Technologies Limited is the registrar to the offer..
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