Policybazaar IPO: According to the draft red herring prospectus (DRHP), the IPO will consist of a fresh issue of equity shares worth Rs 3,750 crore, while it includes an offer for sale (OFS) of Rs 2,267.50 crore by existing shareholders.
PB Fintech, which operates online insurance platform Policybazaar and credit comparison portal Paisabazaar, has filed an application with market regulator SEBI to raise Rs 6,017.5 crore through an initial public offering (IPO). has done. According to the draft red herring prospectus (DRHP), the IPO will consist of a fresh issue of equity shares worth Rs 3,750 crore, while it includes an offer for sale (OFS) of Rs 2,267.50 crore by existing shareholders.
Under the OFS, SVF Python-II (Cayman) will sell shares worth Rs 1,875 crore, Yashish Dahiya will sell shares worth Rs 250 crore and some other shareholders will also offer shares.
These are the managers of the IPO
PB Fintech may consider raising around Rs 750 crore through private placement of equity shares before the IPO. Kotak Mahindra Capital Company, Morgan Stanley India Company, Citigroup Global Markets India, ICICI Securities, HDFC Bank Ltd., IIFL Securities and Jefferies India are the book running lead managers to the issue.
PB Fintech is a leading online platform for insurance and loan products, driven by technology, data and innovation. Policybazaar is an online insurance aggregator. In this, Japanese company Softbank has invested. Here you can also find out which company’s product is cheap and whose expensive.
Insurance broker company
The company has recently obtained broking license and has officially become an insurance broker. Policybazaar also announced its offline expansion as a broker and has set up 15 stores, with plans to expand to 100 locations. The company said, the store will give an opportunity to know the experience for the customers.
Company established in 2008
The company also announced a new group health insurance program for SMEs, MSMEs and large corporates. Established in 2008, the company used to work as an insurance aggregator, recently it became an insurance broker. The company has investors like SoftBank, Info Edge, Temasek, Tencent, Tiger Global.
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