PolicyBazaar IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money
PB Fintechwill offer its shares within a price range of ₹940-₹980 per share.
- The company intends to raise ₹5,709 crore with this public issue, at a valuation of $6 billion.
PolicyBazaarwill use this funding to make strategic investments and acquisitions.
AdvertisementPB Fintech — the parent company of insurance company PolicyBazaar and lending company PaisaBazaar — will open its initial public offering (IPO) today, with a price band of ₹940-₹980 per share.
The lot size has been set at 15 shares.
The company intends to raise ₹5,709 crore with this public issue, at a valuation of $6 billion. The IPO will include fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore from existing investors.
PolicyBazaar will use this funding to make strategic investments and acquisitions. It is also looking to expand its presence across international markets.
Here’s how you can do it through Zerodha’s Kite application, which is meant for trading stocks and commodities.
- Login to the mobile app and select the IPO option under the console. If you’re logging in through desktop, then go to console — portfolio — IPO.
- You will find a list of IPOs that are open for investment. Select the IPO you want to invest in.
- Enter your UPI ID from the BHIM app. Ensure your UPI ID is mapped to your personal bank account.
- Select investor type for your application.
- Enter the lot size (number of shares required to buy in one lot) announced by the company.
- Tick on the cut off price for more chances of allotment of shares as it indicates investor’s willingness to subscribe to shares at any price discovered within the price band. Cut off price is the issue price.
- Retail investors can bid for three lots.
- After this step, click on the check box to confirm and submit.
- The last step is to accept the mandate request for proceeding with IPO on your BHIM UPI app. Once you accept the mandate, the amount of funds for IPO will be blocked till the allotment.
- Now wait till the allotment date of shares to see if you have received the lot size you bid for.
- Log in to Paytm Money app.
- Click on the IPO section on the home screen.
- Apply for the IPO that is open for applications.
- Add details for bidding such as quantity, amount, and more.
- Enter UPI id to make payment.
- Log in to your bank’s net banking account.
- Go to the investment section and select the IPO option.
- Fill your investment and bank account details to complete the verification process.
- Later select the IPO you want to apply for.
- Enter the number of shares and bid price.
- Read and accept ‘terms and conditions’ documents.
- Submit your application.
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