PolicyBazaar’s IPO to open on November 1 — check last date, listing date and more
- PB Fintech will offer shares within a price band of ₹940-₹980 per share, with a lot size of 15 shares.
- The allotment will be announced November 10 and the IPO will be listed on November 15.
- Another ₹375 crore would be invested to enhance PolicyBazaar’s presence across international markets.
AdvertisementPB Fintech — the parent company of insurance company PolicyBazaar and lending company PaisaBazaar — will launch its initial public offering (IPO) tomorrow. The company will offer shares within a price band of ₹940-₹980 per share, with a lot size of 15 shares.
The allotment will be announced November 10 and the IPO will be listed on November 15.
PolicyBazaar intends to raise ₹5,709 crore. The IPO will include fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore from existing investors.
|IPO Open Date||November 1, 2021|
|IPO Close Date||November 3, 2021|
|Basis of Allotment Date||November 10, 2021|
|Initiation of Refunds||November 11, 2021|
|Credit of Shares to Demat Account||November 12, 2021|
|IPO Listing Date||November 15, 2021|
According to PB Fintech’s red herring prospectus (RHP), the company will use ₹1500 crore of the proceeds to create brand awareness for PolicyBazaar and PaisaBazaar. Besides this, PolicyBazaar will also invest an additional ₹600 crore on funding strategic investments and acquisition.
About ₹375 crore will be used to increase the company’s customer base both online and offline.
Another ₹375 crore would be invested to enhance PB Fintech’s presence across international markets.
PolicyBazaar already has a presence in the Dubai market but has not decided to venture into other markets yet, the company said in a press conference on October 28.
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