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PolicyBazaar And PaisaBazaar’s parent Company PB Fintech IPO Open on November 1

PolicyBazaar And PaisaBazaar IPO: PB Fintech, which is parent company of PolicyBazaar And PaisaBazaar, has announced to open its IPO on November 1 and close on November 3.

Highlights

  • PB Fintech IPO Open on 1st November
  • The internet company (E-policy Company) has set a price band of ₹940-₹980 per share.
  • Shares of the company are scheduled to list on 15th November.

PB Fintech has announced its plan to open the initial public offering (IPO) next week. The IPO will open on 1st November and close on 3rd November with a price band of ₹940-₹980 per share.

The issue size of the PB Fintech IPO is ₹5,709 crores consisting of a fresh issue of ₹3,759 crores and an offer for sale of ₹1,959 crores by its existing shareholders.

PolicyBazaar And PaisaBazaar IPO: PB Fintech IPO Open From 1st November, Details, GMP today

PB Fintech’s Promoters selling existing shares in the IPO include SVF Python II (Cayman) selling shares worth ₹1,875 crores, 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 crores on the upper price band.

PB Fintech is the parent company of the largest platforms for insurance and lending products through PolicyBazaar and PaisaBazaar.

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PolicyBazaar And PaisaBazaar IPO Price band, Lot size And Details

Bidding Dates ( IPO Opening And Closing Dates )Opening Date: 1st November 2021
Closing Date: 3rd November 2021
Min. investmentRs. 14,100
Lot Size And Price BandLot size:15 And Price Band: Rs.940-980
IPO Listing Date15th November 2021

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.

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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.

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