IPO · Financial Services

InsuranceDekho plans to file DRHP by September 2026

By Startup Enthusiast · 14 July 2026

What they do

InsuranceDekho lets customers compare and buy motor, health, life and other insurance policies online

It plans to file a DRHP with SEBI by September 2026 for an IPO of ₹3,000-4,000 Cr at a valuation of about ₹9,500 Cr

The company is merging with RenewBuy, and its parent Girnar Software also plans its own IPO

InsuranceDekho plans to file a DRHP (draft red herring prospectus, a preliminary document for an IPO) with SEBI (Securities and Exchange Board of India) by end of September 2026.
The company targets a valuation of around ₹9,500 Cr (~$986 Mn).
The IPO will include a fresh issue of shares and an offer for sale (OFS) by existing investors, with the fresh issue likely being the larger portion.
The proposed IPO size is ₹3,000-4,000 Cr.
InsuranceDekho aims to list on public exchanges by March 2027.
The company is unlikely to raise a pre-IPO round.
Its merger with RenewBuy is ongoing and expected to take 3-4 more quarters to complete.
The CCI (Competition Commission of India) cleared the merger in November 2025, and IRDAI (Insurance Regulatory and Development Authority of India) gave in-principle approval in March 2026.
The next regulatory step is to seek permission from the NCLT (National Company Law Tribunal).

New-age tech IPOs are gaining momentum, with companies like Zepto, Cult.fit, Fibe, PRISM, and Razorpay having recently filed DRHPs.
InsuranceDekho's parent Girnar Software is expected to file its own DRHP for a ₹3,000-3,500 Cr IPO at a valuation of ₹13,000-15,000 Cr.
After Girnar's listing, InsuranceDekho will remain an associate investment.
Competitor Turtlemint listed on stock exchanges in June 2026, and Acko is looking to file a DRHP via the confidential route to raise ₹2,500 Cr.

InsuranceDekho enables customers to compare and purchase motor, health, life, and other insurance products.
The process involves filling details, getting quotes from top insurers, selecting a plan, paying online, and receiving the policy instantly.
Policy issuance time is 5 minutes.
Products include car insurance, bike insurance, health insurance, term insurance, investment plans, corporate insurance, family health insurance, and guaranteed return plans.
In 2025, the company secured a composite broking licence and launched HEP, a SaaS platform for insurance distributors.
It has served 17 Mn+ customers and processed 145k+ claims.
The company is headquartered in Gurugram and was incubated as a wholly owned subsidiary of Girnar Software, which also operates CarDekho, BikeDekho, ZigWheels, CollegeDekho, Rupyy, Revv, and Carrum.

Product: An online insurance platform for comparing and buying policies across major categories
Customers: Consumers buying insurance, with insurers and distribution partners paying for access and distribution
How it makes money: Earns commissions and distribution revenue from policies sold through its platform and partner network
What sets it apart: Large AI-enabled distribution network with nationwide partner coverage and a broad insurer base
Operations: Operates through digital partners and point-of-sale agents across India