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.
  

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.


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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