Policy Bazaar was founded in June 2008, and now “Policy Bazaar” and “Paisa Bazaar” are planning to debut on Dalal Street in the coming months. PB Infotech the parent company of Policy Bazaar, and Paisa Bazaaraims to raise Rs. 6,000 Crore through IPO. Both companies are part of the same franchise, “PB Infotech”, however, they deal in entirely different markets. Here in this article, you will find available details of the Policy Bazaar IPO.
Policy Bazaar IPO Details
IPO Issue Size- According to the reports, PB Infotech the parent company aims to raise up to Rs. 6017.50 crore through its initial public offering. The company has made this revelation in the preliminary documents filed with capital markets regulator SEBI.
The IPO consists of fresh issuance worth Rs. 3750 crore and 2267.50 crore offer for sale by existing shareholders. This includes Softbank vision Fund Python, which has a 9.75 % stake, China’s Tencent, which owns over 9% stake is unlikely to offload the stake.
The company’s founder, CEO, co-founder are likely to sell shares worth Rs. 392.50 crore.
Policy Bazaar IPO Utilization of Fund- As per the company’s statement, it will allocate Rs. 1500 crore to enhance visibility and awareness of its brands. It will also use issue proceeds for expansion and strategic acquisitions.
About the Company PB Infotech
The company is India’s largest online platform for insurance and lending products leveraging the power of technology, data, and innovation.
The company launched Policybazaar, the flagship platform, in 2008 to respond to consumers’ need for more awareness, choice and transparency and create a consumer-pull-based, provider-neutral model for insurance distribution. In FY20, Policybazaar was India’s largest digital insurance marketplace with a 93.4 percent market share based on the number of policies sold, and 65.3 percent of all digital insurance sales in India by volume was transacted through Policybazaar.
As of March 2021, over 4.8 crore consumers have registered on the Policybazaar platform and purchased over 1.9 crore policies from insurer partners. In FY21, the annual number of visits on the Policybazaar website was 12.65 crore.
In 2014, it launched Paisabazaar with the goal to transform how Indians access personal credit by accentuating ease, convenience, and transparency in selecting a variety of personal loans and credit cards. Paisabazaar was India’s largest digital consumer credit marketplace with a 51.4 percent market share, based on disbursals in FY20. During FY19, FY20, and FY21, Paisabazaar enabled disbursals of Rs 5,101.5 crore, Rs 6,549.6 crore, and Rs 2,916.8 crore, respectively.
Details of Policy Bazaar IPO
| Particulars | IPO Details |
|---|---|
| IPO Opening Date | NA |
| IPO Closing Date | NA |
| Issue Type | NA |
| Issue Amount | Rs. 6017.50 Crore (Tentative) |
| Price of IPO | NA |
| Face Value | Rs. 10 per equity share |
| Lot Size | NA |
| Listing At | BSE and NSE |
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