GA-Backed Acko Is Said to Hire Banks for $350 Million India IPO

Acko Technology & Services Pvt., an Indian digital insurer backed by General Atlantic, has hired investment banks for a potential initial public offering that could raise as much as $350 million, according to people familiar with the matter.

The company has engaged Kotak Mahindra Capital Co., ICICI Securities Ltd. and Morgan Stanley as advisers, and is seeking a valuation of as much as $2.5 billion, the people said, asking not to be identified because the information is private.