PolicyBazaar’s IPO to open on November 1 — check last date, listing date and more

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PolicyBazaar’s IPO to open on November 1 — check last date, listing date and more
BCCL
  • 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.
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PB 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.

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EventDate
IPO Open DateNovember 1, 2021
IPO Close DateNovember 3, 2021
Basis of Allotment DateNovember 10, 2021
Initiation of RefundsNovember 11, 2021
Credit of Shares to Demat AccountNovember 12, 2021
IPO Listing DateNovember 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.
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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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