Whalesbook
Acko waise toh bohot confident dikh raha hai. Unhone ICICI Securities, Morgan Stanley, aur Kotak Securities ko apna lead manager banaya hai. Plan hai ki June tak IPO papers file kar denge aur 2026 ya 2027 tak list ho jayenge. Is IPO se $250 million se $400 million tak ka paisa aa sakta hai, jo new shares aur existing investors ke through raise hoga.
Ab numbers ki baat karein toh FY25 mein Acko ka revenue 35% badh kar ₹2,837 crore ho gaya hai. Net loss 37% kam ho kar ₹424 crore raha, jo ki ek acchi improvement hai. Total expenses bhi 17% badhe hain, jo ki ₹3,312 crore hain. Company 2016 se hai aur ab auto se health sector mein bhi aa gayi hai, Parentlane ko acquire karne ke baad. Aur ye log PhonePe aur Zomato jaise platforms ke saath partner bhi karte hain.
Acko ka $2 billion se $2.5 billion ka valuation target kaafi bada hai, khas kar insurtech space mein. Dekho toh Digit Insurance ka valuation $4 billion tha aur Turtlemint ka $900-950 million. Acko ne ab tak around $598 million raise kiya hai, last time 2021 mein $1.1 billion valuation pe.
Lekin bhai, Indian IPO market kaafi cool down ho gaya hai 2020-2024 ke boom ke baad. Agar fy26 ke tech IPOs dekhein toh bhi, investors abhi cautious hain. Puraane saal ke 66% IPOs apne issue price se neeche trade ho rahe hain, kuch toh 70% tak gir gaye hain! Global economic worries bhi factor hain.
Toh Acko ke IPO mein risks bhi hain. Pehla, net loss mein chalna investors ko pasand nahi aa sakta. Dusra, $2-2.5 billion ka valuation ambitious lag raha hai jabki recent IPOs ne disappoint kiya hai. IRDAI (Insurance Regulatory and Development Authority of India) se bhi thodi scrutiny chal rahi hai management expense limits ko lekar. Competition aur partners pe dependency bhi risks hain.
Overall, India ka insurance sector toh strong hai aur FY26 tak $222 billion tak pahunchne ka estimate hai. Insurtechs AI use karke efficiency badha rahe hain. Acko ko agar investors ka trust jeetna hai toh apni strategy sahi se execute karni hogi aur profitability ka clear path dikhana hoga.