Policybazaar IPO opens right now: Here’s every part you want to know

Policybazaar IPO: The preliminary public providing (IPO) of PB Fintech, the operator of on-line insurance coverage aggregator Policybazaar and credit score comparability portal Paisabazaar, has opened for subscription on Monday, November 1, 2021, at a worth band of Rs 940-980 per share. The supply will probably be obtainable until Wednesday, November 3, 2021.
Through the supply, PB Fintech goals to boost Rs 5,710 crore. The IPO contains a contemporary difficulty of fairness shares price Rs 3,750 crore and a proposal on the market (OFS) of Rs 1,960 crore by present shareholders.
As a part of the OFS, SVF Python II (Cayman) will promote shares price Rs 1,875 crore, Yashish Dahiya will offload shares price Rs 30 crore, Alok Bansal will divest shares price Rs 12.75 crore, Shikha Dahiya will promote shares to the tune of Rs 12.25 crore and Rajendra Singh Kuhar will offload shares price Rs 3.5 crore.

In addition, Founder United Trust will promote round 2,67,500 shares and on higher band worth it come round Rs 26.21 crore.

PB Fintech is the main on-line platform for insurance coverage and lending merchandise. It leverages the facility of know-how, information and innovation.
The firm supplies handy entry to insurance coverage, credit score and different monetary merchandise and purpose to create consciousness amongst Indian households concerning the monetary affect of loss of life, illness and harm.
Investors who want to subscribe to Policybazaar IPO can bid in a number of 15 fairness shares and multiples thereafter. At the higher worth band, they are going to be shelling out Rs 14,700 to get a single lot of PB Fintech. The shares will probably be listed on each BSE in addition to the National Stock Exchange (NSE).
The candidates additionally should observe that the cut-off time for UPI mandate affirmation is Monday, November 8, 2021, upto 12:00 pm. If they fail to take action then their utility will not be thought of.
Citigroup Global Markets India, Kotak Mahindra Capital Company, Morgan Stanley India Company, ICICI Securities, HDFC Bank, IIFL Securities and Jefferies India are the ebook working lead managers to the supply whereas Link Intime India is the registrar of the difficulty.
The proceeds of the contemporary difficulty will probably be used in direction of enhancing the visibility and consciousness of its manufacturers, to search for new alternatives to broaden development initiatives to extend the buyer base together with offline presence. Also, the proceeds from the IPO will probably be used for funding strategic investments and acquisitions, increasing presence exterior India and normal company objective.
Before heading into the IPO, PB Fintech raised over Rs 2,569 crore (Rs 25,69,37,17,420) from 155 anchor buyers in lieu of 26,218,079 fairness shares at Rs 980 every, information from the inventory exchanges confirmed.

The anchor buyers embrace the likes of Goldman Sachs, Nomura, BlackRock Global Funds, Morgan Stanley, Canada Pension Plan Investment Board, Fidelity, Abu Dhabi Investment Authority, ICICI Prudential Mutual Fund (MF), SBI MF, Axis MF and UTI MF amongst others.
Commenting on the IPO, Ravi Singh, VP and Head of Research at Share India Securities stated: “Policybazaar has so far able to attract new customers through unique 1.26 million visits during FY21 on its platform and maintained the leadership in digital marketplace. However, any public health threat like the Covid-19 pandemic, could adversely affect the business, financial condition, and results of operations. If we consider the overall business model of Policybazaar and its valuations over the past years then a NEUTRAL rating on this issue would be most suitable.”
The share allotment is more likely to happen on Wednesday, November 10, 2021, and the shares are anticipated to be listed on Monday, November 15, 2021, in keeping with the timeline given within the pink herring prospectus (RHP).