All About Policy Bazaar IPO

Following a brief lull in the number of mega IPOs, PB Fintech, which operates online insurance platform Policybazaar and credit comparison portal Paisabazaar, will launch its 5,710-crore initial public offering on November 1st. The issue's price band has been set at Rs. 940-980 per share. The issue, which will close on November 3, consists of a new issue of 3,750 crore worth of equity shares and a 1,960 crore offer for sale by existing shareholders. According to market observers, Policybazaar shares are currently trading in the grey market at a decent premium (GMP) of Rs. 175. On November 15, the company plans to list on the NSE and BSE, two major stock exchanges. The proceeds of the new issuance will be used to increase the visibility and awareness of the company's brands, as well as to look for new opportunities to expand growth initiatives to increase the consumer base, including offline presence. PB Fintech is the top internet platform for insurance and lending products, offering insurance, credit, and other financial services. The issue's book running lead managers are Kotak Mahindra Capital, Morgan Stanley, Citigroup Global Markets India, ICICI Securities, HDFC Bank Ltd, IIFL Securities, and Jefferies India.

All About Policy Bazaar IPO