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<ul><li>PB Fintech, parent company of PolicyBazaar, has announced to open its IPO on November 1 and close on November 3.</li><li>The internet company has set a price band of ₹940-₹980 per share.</li><li>Shares of the company are scheduled to list on November 15.</li></ul>PB Fintech, the parent company of online fintech marketplaces PolicyBazaar and PaisaBazaar, has announced its plan to open the initial public offering (IPO) next week. The IPO of the internet company will open on November 1 and close on November 3 with a price band of ₹940-₹980 per share. The issue size of the IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale of ₹1,959 crore by its existing shareholders. Promoters selling share in the IPO include SVF Python II (Cayman) selling shares worth ₹1,875 crore, Yashish Dahiya -- the chief executive of PolicyBazaar -- worth ₹30 crore, Alok Bansal worth ₹12.75 crore, Shikha Dahiya worth ₹12.50 crore and Rajendra Singh Kuhar worth ₹3.50 crore. In addition, Founders United Trust will sell around 2.68 lakh shares, which aggregates to over ₹26 crore on the upper price band. PB Fintech has built two of the largest platforms for insurance and lending products through PolicyBazaar and PaisaBazaar. India’s largest online insurance aggregator, PolicyBazaar, was launched in 2008. It is one of the biggest beneficiaries of the boom in India’s insurance sector as a market leader in selling insurance online. PolicyBazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue soon. 95% of PolicyBazaar’s revenue comes from commissions from insurance companies on selling policies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fino-payments-bank-will-be-the-first-fintech-startup-in-india-to-get-listed-on-the-bourses-and-it-is-profitable/articleshow/87280457.cms">Fino Payments Bank will be the first fintech startup in India to get listed on the bourses and it is profitable</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/after-raising-2-billion-since-2020-byjus-is-now-looking-to-raise-another-500-million-in-debt-to-acquire-more-businesses/articleshow/87276471.cms">After raising $2 billion since 2020, Byju’s is now looking to raise another $500 million in debt to acquire more businesses</a>

PolicyBazaar’s parent to open its ₹5,700 crore IPO on November 1

<ul><li>Over 50% of <keyword id="12056148" type="General" weightage="20" keywordseo="pb-fintech-ipo" source="Orion">PB Fintech IPO</keyword> has been subscribed on the first day of the IPO bidding process.</li><li>The company intends to raise ₹5,709 crore with this public issue, at a valuation of $6 billion.</li><li>PolicyBazaar will use this funding to make strategic investments and acquisitions.</li><li>You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.</li></ul>The initial public offering (IPO) of PB Fintech, the parent company of insurance selling platform PolicyBazaar and lending platform PaisaBazaar, has been subscribed by over 50% on the first day of IPO. The IPO of the company started today and has subscribed 0.58 times on the first day. Shares allotted to retail investors have been subscribed 1.23 times. You can easily <a href="https://www.businessinsider.in/business/startups/news/policybazaar-ipo-will-open-today-here-is-how-to-apply-via-bank-and-apps-like-zerodha-paytm-money/articleshow/87370279.cms">apply to the Policybazaar IPOs </a>via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others. Overall, investors have bid for 1.85 crore shares from 3.20 crore shares open for subscription. According to <a href="https://www.livemint.com/market/ipo/policybazaar-ipo-gmp-subscription-status-other-details-should-you-subscribe-11635732095036.html">reports</a>, Policybazaar shares are available at a premium of ₹150 in the grey market. The IPO started on November 1 and will close on November 3 with a price band of ₹940 - ₹980 per share. The issue size of the IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale of ₹1,959 crore by its existing shareholders. The company said it will use ₹1500 crore of the IPO 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. Further, promoters are <a href="https://economictimes.indiatimes.com/tech/startups/policybazaar-founders-to-cut-sale-of-own-shares-in-ipo-by-85-90/articleshow/87446355.cms">reportedly </a>selling a lot fewer shares than they had initially planned with the belief that the stock has significant headroom for growth post listing. PolicyBazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue soon. 95% of PolicyBazaar’s revenue comes from commissions from insurance companies on selling policies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/there-are-five-ipo-openings-in-the-next-15-days-of-november-including-paytm-policybazaar/slidelist/87455241.cms#slideid=87455871">The next ten days are big for IPO investors ⁠— hope you have cash set aside</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/policybazaar-ipo-the-grey-market-is-paying-150-a-share-extra-to-buy-the-shares-before-the-ipo/articleshow/87453983.cms">Policybazaar IPO ⁠— the grey market is paying ₹150 a share extra to buy the shares before the IPO</a>

Policybazaar IPO: Second day to subscribe to the IPO, grey market premium at ₹150

<ul><li><a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms" data-type="tilCustomLink"></a><keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword> launched its public issue on November 1, at a price band of ₹940-₹980.</li><li>Investors have bid for 5.47 crore shares from 3.45 crore shares open for subscription.</li><li><keyword id="11111226" type="General" weightage="20" keywordseo="pb-fintech" source="Orion">PB Fintech</keyword> intends to raise ₹5,709 crore at a valuation of $6.1 billion (₹45,500 crore).</li></ul>The initial public offering (IPO) of PB Fintech — the parent company of insurance selling platform PolicyBazaar and lending platform PaisaBazaar — has been subscribed by 1.59 times in the first two days of its initial public offering (IPO). PolicyBazaar, which intends to raise ₹5,709 crore at a valuation of $6.1 billion (₹45,500 crore), launched its public issue on November 1 and today is the last date to subscribe. The shares are available at a price band of ₹940-₹980. The lot size has been set up at 15 shares, taking the value of one lot to ₹14,700. Overall, investors have bid for 5.47 crore shares from 3.45 crore shares open for subscription. Retail investors subscribed to PolicyBazaar’s IPO 2.04 times. Qualified institutional buyers (QIB) have subscribed to the Policybazaar’s IPO by 2.08 times and non-institutional investors have subscribed 23%. Overall, the IPO was subscribed 1,59 times. <div type="Video" msid="87578802" hostid="261" title="Here's why Policybazaar founders chose to go public" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87578802"></div> According to <a href="https://www.livemint.com/market/ipo/policybazaar-ipo-gmp-subscription-status-other-details-should-you-subscribe-11635732095036.html">reports</a>, <keyword id="12401663" type="General" weightage="20" keywordseo="policybazaar-shares" source="Orion">Policybazaar shares</keyword> are available at a premium of ₹150 in the grey market. You can easily <a href="https://www.businessinsider.in/business/startups/news/policybazaar-ipo-will-open-today-here-is-how-to-apply-via-bank-and-apps-like-zerodha-paytm-money/articleshow/87370279.cms">apply to the Policybazaar IPOs </a>via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others. PolicyBazaar’s 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. The company will also invest capital to grow its user base both online and offline as well as build its presence online. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms" data-type="tilCustomLink">Logistics startup Delhivery files for a nearly $1 billion IPO</a> <a href="https://www.businessinsider.in/finance/banks/news/former-sbi-chairman-pratip-chaudhuris-arrest-will-lead-to-policy-paralysis-say-experts/articleshow/87482347.cms" data-type="tilCustomLink">The arrest of former SBI chief Pratip Chaudhuri may prevent bankers from making any risky decisions, say experts</a> <a href="https://www.businessinsider.in/business/telecom/news/elon-musk-owned-starlink-forms-subsidiary-in-india-will-soon-apply-for-licenses/articleshow/87480590.cms">Elon Musk-owned Starlink forms subsidiary in India, will soon apply for licenses</a>

PolicyBazaar IPO — Today is the last day to subscribe, grey market premium at ₹150

<ul><li>The price band for <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword>’s IPO was set at ₹940-₹980.</li><li>The company’s market cap stood at ₹51,692 crore ($6.9 billion) at 9.47 a.m.</li><li>It will use the proceeds from the public issue to acquire new businesses and boost its operations.</li></ul>Shares of PB Fintech — the parent company of online insurance platform PolicyBazaar and lending platform PaisaBazaar — started trading at ₹1,150 on the stock exchanges on Monday, November 15. This is a premium of 17.35% over the issue price of ₹980. The company’s market cap stood at ₹51,692 crore ($6.9 billion) at 9.47 a.m. The pre-open price of this IPO was ₹1,200 at 9:38 AM. PolicyBazaar's shares were trading at ₹1,233 at 11:33 a.m, representing a premium of 26%.It's market cap reached ₹55,672.80 crore ($7.4 billion) at the same time. PolicyBazaar’s three-day-long initial public offering (IPO) opened on November 1, at a price band of ₹940-₹980 per share. The lot size was set at 15 shares. The cost of each lot was ₹14,700 at ₹980 a share. The grey market ⁠— shares being bought and sold outside the exchanges before the IPO ⁠— was at a premium of ₹150 a share, as per several media reports. The issue size of PolicyBazaar’s IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore. The issue received bids for 57.24 crore equity shares against an offer size of 3.45 crore. PB Fintech — which was <a href="https://economictimes.indiatimes.com/tech/funding/policybazaar-rejigs-cap-table-with-a-45-mn-round-at-2-4-bn-valuation/articleshow/81301551.cms">reportedly</a> valued at $2.4 billion in March 2021 when it raised $45 million from Cyrus Poonawalla Group and others — reported revenue of ₹957 crore in the financial year 2021. Its losses were cut down to ₹150 crore. The company would use the proceeds from the upcoming IPO for marketing of PolicyBazaar and PaisaBazaar. A part of the proceeds would also be used for strategic investments and acquisition of new businesses, it said in its red herring prospectus (RHP). SEE ALSO <a href="https://www.businessinsider.in/science/news/blue-origin-teaches-space-tourists-who-land-in-the-desert-what-to-do-if-their-rocket-lands-next-to-a-cactus/articleshow/87698700.cms" data-type="tilCustomLink">Blue Origin teaches space tourists who land in the desert what to do if their rocket lands next to a cactus</a> <a href="https://www.businessinsider.in/stock-market/news/elon-musk-sold-nearly-7-billion-worth-of-tesla-stock-this-week-and-says-hes-incurring-higher-taxes-on-purpose/articleshow/87699239.cms" data-type="tilCustomLink">Elon Musk sold nearly $7 billion worth of Tesla stock this week - and says he's incurring higher taxes on purpose</a> <a href="https://www.businessinsider.in/tech/news/former-spacex-engineer-accuses-company-of-racial-discrimination-denying-its-claims-that-he-was-fired-for-making-inappropriate-facial-expressions/articleshow/87699444.cms" data-type="tilCustomLink">Former SpaceX engineer accuses company of racial discrimination, denying its claims that he was fired for making inappropriate facial expressions</a>

PolicyBazaar starts trading at a premium of over 17%

The process of availing a loan has evolved significantly in the past few years, with easy and digital processes available that not only enables quicker disbursal but provides maximum convenience for borrowers. Today, availing <keyword id="6362287" type="COMPANY" weightage="20" keywordseo="loans">loans</keyword> is not restricted to just financing big-ticket expenses like buying a house or a car or funding children's education. As a result, increasing number of people are availing loans to finance their lifestyle too and are then saddled with multiple EMIs at wide-ranging rates with very little to spare for investments and their overall financial security. If you are in a similar situation, the best way to come out of it is to consolidate your existing debt into a single loan at a low-interest rate, longer tenure and other favourable terms and conditions. Additionally, this will also save you from the hassle of tracking multiple EMIs, due dates, etc. Here is how you may go about it: Step 1: Figure out the amount you need As a first step, find out your total outstanding debt and then, subtract from it the amount that you can arrange by redeeming your existing investments. Prefer low-yield investments like bank fixed deposits or debt funds for this purpose as their rate of returns are likely to be lower than the loan rates. Step 2: Find the credit options Once you know the loan amount, it’s time to find out the best loan type based on their interest rates, tenure, etc. Here are your options: Personal loan: The fast disbursal process, affordable interest rates and flexible tenures of personal loans make them the most popular debt consolidation instrument, especially among credit card holders. Lenders charge anywhere from 11% - 24% p.a., depending on your income, credit score and employer. Their tenures can go up to 5 years while the disbursal is usually completed within seven days. Existing personal loan borrowers can also try the personal loan balance transfer option to transfer their loan to another lender at lower interest rate, longer tenure while availing extra funds to pay off other costlier debts. Loan against property: Loan against property (LAP) is granted against the mortgage of residential and commercial properties. Their interest rates can be as low as 9.4% p.a. while the loan tenure can go up to 15 years. The loan amount too can be as high as Rs 7.5 crore, usually ranging between 50 to 65% of your property value. Your age and repayment capacity too would be considered while sanctioning your loan amount. Thus, for those who own a property but don't have an existing home loan, LAP would be the best debt consolidation option considering their long tenure, low-interest rates and higher loan amount. Top-up loan: A top-up loan is offered to existing home loan borrowers only. Although their lending rates are usually 100 bps higher than home loan rates, some lenders charge the same interest rates as home loans. This makes them probably the cheapest credit option for existing home loan borrowers. The loan amount can go up to Rs 15 lakh depending on your repayment capacity and property value while the loan tenure can go up to 20 years depending on the residual tenure of your original home loan. Loan against securities: Loan against securities is an overdraft facility set against the value of your securities. Lenders lend up to 85% of the value of your securities depending on their type. Interest rates usually range upwards of 11% p.a. on the amount drawn. It is suitable for those with sizeable long-term investments in the form of shares, equity mutual funds, insurance policies, etc. as they can utilise them for low-cost funds without compromising their long-term goal. Step 4: Check your credit report before making loan application Lenders usually consider credit scores of 750 and above as good ones. Checking your credit report before making the loan application will allow you to know your current credit score, detect errors or frauds in your credit report and take required corrective actions. Fetching your credit report from online lending marketplaces and credit bureaus will also help in getting customised loan offers through them on the basis of your credit score. Compare all loan options available to you from a lending marketplace to get the best deal. Step 5: Prioritise prepayments of older loans Once you have availed the new loan, prefer paying off unsecured loans like personal loans, loan against credit card, etc. before paying secured ones like home loans, car loans, etc. Unsecured loans not only have higher interest rates, prepaying them off first will improve your credit mix, i.e. ratio of secured and unsecured loans, which will improve your credit score. Step 6: Ensure regular repayment of new loan After replacing your older loans with a new loan, ensure its regular repayment to avoid penalties and conserve your credit score. If required, set a standing instruction in your primary savings account to automatically deduct the <keyword id="6357050" type="ORGANIZATION" weightage="20" keywordseo="EMI">EMI</keyword> on a pre-specified date. This piece is authored by <keyword id="2955252" type="ORGANIZATION" weightage="20" keywordseo="Naveen-Kukreja">Naveen Kukreja</keyword>, CEO&amp; Co-founder, <keyword id="2906016" type="PERSON" weightage="20" keywordseo="PaisaBazaar">Paisabazaar</keyword>.com

Here’s how you can consolidate your existing loans

Are you caught up in the rent vs. buy a house debate? Fret not. We have come to your rescue. After analyzing the pros and cons of <keyword id="599142" type="UNKNOWN" weightage="20" keywordseo="Renting">renting</keyword> and <keyword id="24474" type="ORGANIZATION" weightage="20" keywordseo="buying">buying</keyword> a house, we have compiled some interesting pointers in a table below. These pointers will not only solve the conundrum for you, but will also help you make a smarter decision. 
 
 
 
If the above table still didn’t answer all your questions and you are still thinking of buying a home, you should ask yourself the following questions: 
<ol>
	<li>
		Do you plan to stay in your current city for a long term (more than 5 years)?</li>
	<li> Have you calculated what your <keyword id="6357050" type="COMPANY" weightage="20" keywordseo="EMI">EMI</keyword> could be if you were to purchase a house? Does this EMI fit your budget?</li>
	<li>
		What is your current ‘rent to capital’ ratio?</li>
	<li>
		What is the estimated annual increase in the value of the property you plan to buy?</li>
</ol>
If you have the answer to the last question, then the puzzle has been solved. 
 
About the author: Naveen Kukreja is Director, Paisabazaar.com 
Image: Thinkstock

The Puzzling Rent-or-buy Debate

<ul><li>Policybazaar, Sigachi Industries and SJS Enterprises are all set to open their IPOs next week.</li><li>All three IPOs will open on November 1 and close on November 3.</li><li>Overall, the three companies are looking to raise about ₹6,634 crore in three days of bidding process.</li></ul>Initial public offerings (IPOs) season is back with a bang as three companies are set to open their bidding process for public listing. Policybazaar, Sigachi Industries and SJS Enterprises are looking to altogether raise ₹6,634 crore in the first week of November. All three IPOs will open on November 1 and close on November 3. At the same time, the beauty and fashion ecommerce company Nykaa worth ₹5,352 crore issue size is opening its <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword> tomorrow, October 28, which will close on November 3. Meanwhile, investors are awaiting announcement on IPO dates of fintech players Paytm, MobiKwik and edible oil maker Adani Wilmar, which may also open in November. PolicyBazaar PB Fintech, the parent company of online fintech marketplaces PolicyBazaar and PaisaBazaar, is coming with an IPO next week. The issue size of the IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale of ₹1,959 crore by its existing shareholders PB Fintech has built two of the largest platforms for insurance and lending products through PolicyBazaar and PaisaBazaar. PolicyBazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue soon. 95% of PolicyBazaar’s revenue comes from commissions from insurance companies on selling policies. Sigachi Industries The Hyderabad-based manufacturer of cellulose-based excipients, Sigachi Industries, is looking to raise ₹125.43 crore by selling 76.95 lakh shares. The company is engaged in the manufacturing of microcrystalline cellulose, the polymer that is widely used for finished dosages in the pharmaceutical industry. It operates through three manufacturing units in Hyderabad and Jhagadia, Dahej located in Gujarat. The proceeds from the issue will be used for expansion of production facilities of MCC at Dahej and Jhagadia in Gujarat. SJS Enterprises SJS Enterprises, one of the leading players in the Indian decorative aesthetics products industry, will also open its IPO alongside PolicyBazaar and Sigachi Industries on November 1. The IPO consists of a pure offer for sale of ₹710 crore by Evergraph Holdings Pte and ₹90 crore by KA Joseph. Currently, Evergraph Holdings and KA Joseph hold 77.86% and 20.74% stake in the company, respectively. It also manufactures a wide range of aesthetics products that cater to the requirements of the commercial vehicles, medical devices, farm equipment and sanitary ware industries. The company's manufacturing facilities are located in Bengaluru and Pune. IPO details of all three companies are the same: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 1 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 3 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 11 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 12 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 15 </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/hot-stocks-like-irctc-indiamart-infoedge-corrected-up-to-10-from-their-recent-peaks/slidelist/87306665.cms">Hot stocks like IRCTC, IndiaMART, Infoedge corrected up to 10% from their recent peaks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nykaa-ipo-stock-brokers-recommend-to-invest/articleshow/87303946.cms">Looking to invest in Nykaa’s IPO? Here’s what analysts are saying</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-you-can-pre-apply-to-upcoming-ipos-of-nykaa-policybazaar-paytm/articleshow/87302366.cms">Here’s how you can pre-apply to upcoming IPOs of Nykaa, PolicyBazaar and Paytm</a>

IPOs worth around ₹7,000 crore to open in November first week

<ul><li>Policybazaar has raised $150 million from <keyword id="212412" type="COMPANY" weightage="20" keywordseo="Tencent">Tencent</keyword>. </li><li>The investment is a secondary transaction with <keyword id="526777" type="COMPANY" weightage="20" keywordseo="Tiger-Global">Tiger Global</keyword> exiting partially. </li><li>Policybazaar’s valuation now stands at $1.5 billion. </li></ul>Chinese investment giant Tencent has bought a 10% stake in one of India’s largest online insurance selling platform⁠ Policybazaar. The Tencent investment comes in as a secondary transaction, with Tiger Global exiting partially, a source confirmed to Business Insider. According to <a href="https://www.thenewsminute.com/article/tencent-buys-10-stake-policybazaar-15-billion-112104">reports</a>, Tencent has pumped in $150 million for the stake in the startup. With this, Policybazaar’s valuation now stands at $1.5 billion. With this funding, Policybazaar will continue to grow in the insurtech sector while its subsidiary company Paisabazaar too continues to do well, said the source. According to <a href="https://economictimes.indiatimes.com/industry/banking/finance/insure/insurance-industry-to-touch-280-billion-by-fy20-assocham/articleshow/65740339.cms">reports</a>, the Indian insurance industry is set to grow to $280 million by 2019-20. Launched in 2008, Policybazaar is also backed by other investors like Softbank, Infoedge etc. Earlier this year, the Yashish Dahiya-led startup also fell in trouble with the Insurance Regulatory and Development Authority of India. The IRDAI had <a href="https://www.livemint.com/money/personal-finance/insurance-regulator-fines-policybazaar-rs-1-11-crore-for-violating-rules-1567076147163.html">slapped a fine</a> of ₹1.11 crores on the startup for multiple violations, including being found guilty of misleading advertisements for vehicle insurance in India. See also: <a href="https://www.businessinsider.in/business/news/thomas-cook-indias-travel-business-is-hit-by-the-closure-of-jet-airways-cox-kings-and-more/articleshow/71964971.cms">Thomas Cook India’s business is hit by bankruptcies, political unrest and heat wave</a>s

Tencent joins Softbank as investor in one of India’s largest online insurance selling platform⁠ Policybazaar.com as Tiger Global sells part stake

<keyword id="817163" type="UNKNOWN" weightage="100" keywordseo="Retail-lending">Retail lending</keyword>, the <keyword id="1088552" type="UNKNOWN" weightage="100" keywordseo="Loan-against-property">loan against property</keyword> and <keyword id="6387037" type="UNKNOWN" weightage="100" keywordseo="credit-cards">credit cards</keyword> along with unsecured small value <a href="http://www.businessinsider.in/small-business/finance/Alternative-Lending-vs-traditional-banks/articleshow/52505560.cms">business loans </a>etc, has seen a boom lately. This boom has not only helped banks grow their credit portfolio but has also given a major boost to fintech companies in the lending space. 
 
Now that the banks are trying to reach out to as many customers as possible for their credit products, these technology companies are also using their customer assessment capabilities, coupled with superior reach through online means, so that they can expand the consumer base of banks and NBFCs (non-banking finance companies), while charging them accordingly. 
 
Also read: <a href="http://www.businessinsider.in/This-Startup-is-disrupting-the-lending-space-by-providing-free-consumer-services/articleshow/54168160.cms">This Startup is disrupting the lending space by providing free consumer services</a> 
 The personal loan portfolio of banks has seen a 12% year-on-year growth, which has made companies like <keyword id="3173139" type="UNKNOWN" weightage="100" keywordseo="Rubique">Rubique</keyword>, CoinTribe, Paisabazaar and <a href="http://www.businessinsider.in/small-business/finance/now-you-can-calculate-your-credit-score-for-free-with-bankbazaar/articleshow/56797127.cms">BankBazaar </a>expanding their businesses. 
 
"We had done disbursals worth Rs 250 crore last year and that went up by four times to Rs 1,000 crore this year, and we hope to increase it by Rs 2,000 crore for the coming year," said Rubique founder Manavjeet Singh. 
 
Also read: <a href="http://www.businessinsider.in/markets/Unsecured-retail-lending-is-rising-in-private-banks-and-this-could-be-dangerous/articleshow/53429801.cms">Unsecured retail lending is rising in private banks and this could be dangerous</a> 
 
With these digital platforms, customers find it easy to access small-value credit products for consumption, and not to forget unsecured business purposes. However, there are several roadblocks that prevent these companies from realising their full potential. 
 "We get around 17 million visitors on our website checking credit products and checking their eligibility, but only 1-2 per cent of these applications actually convert into disbursals for us because the maximum drop-off takes place in the last leg of the application which still has to be done physically," <keyword id="1865968" type="COMPANY" weightage="100" keywordseo="BankBazaar">BankBazaar</keyword> CEO <a href="http://www.businessinsider.in/do-you-have-a-home-loan-heres-how-to-make-the-most-of-low-interest-rates/articleshow/57755610.cms">Adhil Shetty </a>told <a href="http://economictimes.indiatimes.com/industry/banking/finance/banking/fintech-companies-cash-in-on-retail-lending-boom/articleshow/58139751.cms">ET</a>. 
 
(Image source PublishYourArticles)

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