The study reveals that in recent years, India’s insurance sector is growing rapidly, driven by rising premiums, FDI, and technological advancements like AI and RPA. Mergers, foreign investments, issuance of IPOs and digitalization improve efficiency, while government initiatives enhance financial security. Regulatory relaxations and privatization support further expansion, with the market projected to reach $222 billion by 2026. In addition to this, study explores the oversubscription of IPOs in insurance sector significantly depend on the qualified institutional buyers (QIB) and others subscriptions positively. Conversely, age of companies, face value, lead time and employee subscription have statistically negative insignificance impact. Overall model proved to be statistical significance at 5% level. Approximately 99% of the variability accounted in oversubscription. The model satisfies the all the diagnostic tests conditions. Hence, model is found to be good fit.