New Delhi, April 27 -- Acko General Insurance Ltd has appointed investment banks for an initial public offering in India that could value the startup at up to $2 billion, according to three people familiar with the matter.

The Bengaluru-based company has selected ICICI Securities Ltd, Kotak Mahindra Capital Co, and the India unit of Morgan Stanley to manage the share sale, one of the persons said, asking not to be identified because the information is not yet public.

Mint had reported on 14 December 2025 that the General Atlantic- and Multiples-backed insurtech firm was preparing for an offer that could raise $300-400 million.

The offering is expected to include a mix of a fresh issue of shares and an offer for sale by existing investo...