Mumbai, Dec. 14 -- Acko, a digital insurtech platform backed by private equity firms General Atlantic and Multiples Alternate Asset Management, among others, has begun preparations for an initial public offering to raise $300-400 million, according to two people close to the development.

"The company is in discussions with bankers, and the talks are still preliminary. Formal pitches are expected to happen next month (January) with appointments in the subsequent weeks," one of the two people said on the condition of anonymity.

"The issue is likely to be a mix of primary capital fundraise and secondary transactions through which some of the earlier investors are expected to offload some stake," the second person said, also on the conditio...