Mumbai: Bank Baroda (BOB) is considering an initial public offering (IPO) from ARM INSURANCE INDIFIRST LIFE in the next financial year.
Bob holds 44% of shares in IndiaFirst with Union Bank and Carmel Point Investment (Warburg Pincus) of 30% and 25% respectively.
“Life insurance has a bit of a rough trip during Covid, but this company continues to perform very well.
In the last quarter, it is the fastest growing life insurance company and ranked up from 12 to 10,” said Bob MD & CEO Sanjiv Chadha.
“We really invest in business.” Chadha confirmed that IPO was one of the routes considered.
The Bank of Baroda plans to register for the next fiscal life arm
