Not received PolicyBazaar IPO refund? Here are the things you should know about
PB Fintech, the parent company of PolicyBazaarand PaisaBazaar, will list on the stock exchange on November 15.
- The issue received bids for 57.24 crore equity shares against an offer size of 3.45 crore.
- The company is seeking a valuation of $6.1 billion at the upper price band.
AdvertisementThe allotment status of PolicyBazaar’s initial public offering (IPO) was announced yesterday, November 10.
The company — which goes by the legal name PB Fintech — has received high demand from investors, who oversubscribed the public issue by 16.59 times. The company received bids for 57.24 crore equity shares against an offer size of 3.45 crore.
PB Fintech offered its shares at a price band of ₹940-₹980 and the lot size was set at 15 shares. At the price of ₹980, one lot would cost ₹14,700.
The company is seeking a valuation of $6.1 billion at the upper price band.
If you have not checked whether you received the IPO allotment or not, click here and follow the procedure.
Once the allotment status is declared, all the applicants who got issued will receive the share in their demat account on the date of listing. In this case, by November 15.
The rest, who unfortunately didn’t get the allotment, will receive their IPO refund on/before the end date of mandate.
The investor would have mandated the IPO payment through their UPI ID. This transaction would have a validity period. The IPO amount which is blocked in an investor account usually gets unblocked one day later the IPO allotment or before the end of the validity period.
Usually, every applicant gets a message when shares are blocked and unblocked in their bank account. If the funds are blocked that means the IPO is allotted.
Here is the screenshot of an IPO mandate after the transaction is made through the UPI ID that has the validity period of the IPO.
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