Kotak Mahindra Capital Company, Morgan Stanley India Company, Citigroup Global Markets India, ICICI Securities, HDFC Bank Limited will be the lead managers for Policy Bazaar’s IPO.
Another IPO will knock in the market
PB Fintech, which operates online insurance aggregator PolicyBazaar and loan comparison portal Paisabazaar, has applied to market regulator SEBI to raise Rs 6,017.5 crore through an initial public offering (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.
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. Might consider raising Rs.
These will be the lead managers
Kotak Mahindra Capital Company, Morgan Stanley India Company, Citigroup Global Markets India, ICICI Securities, HDFC Bank Ltd., IIFL Securities and Jefferies India will be the book running lead managers for the Policy Bazaar IPO. PB Fintech is the leading online platform for insurance and loan products, driven by technology data and innovation.
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.
The company was 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. 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.
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