The IPO is expected to include a mix of a fresh issue and an offer for sale (OFS) by existing investors, with the company targeting a valuation in the range of approximately Rs 16,600 crore to Rs 20,750 crore.

Acko appoints bankers for IPO, targets $2

Insurtech firm Acko has picked ICICI Securities, Morgan Stanley, and Kotak Securities as book-running lead managers for its planned initial public offering, according to sources familiar with the matter.

The Bengaluru based company is expected to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in the coming months, the sources said, requesting anonymity as the discussions are private. The firm is targetting a valuation of $2 - $2.5 billion.

The IPO is expected to include a mix of a fresh issue and an offer for sale (OFS) by existing investors, with the company targeting a valuation in the range of approximately Rs 16,600 crore to Rs 20,750 crore.

(This is a developing story)