IPO

PB Fintech Limited (PolicyBazaar IPO)

Mainboard

e-Commerce

Listed On: Nov 15, 2021 at ₹ 1150.00(NSE)

₹ 14700 /15 Shares

Check Allotment

01 Nov, 2021

Open Date

03 Nov, 2021

Close Date

10 Nov, 2021

Allotment Date

15 Nov, 2021

Listing Date
Price Summary

Last Closing

1,885.10 (92.36%)

52 Week High

2,246.90

52 Week Low

1,311.35

Last Update

19-Dec-2025 3:30 PM
IPO Issue Details
  • Issue Price ₹940-980 per equity share
  • Face Value ₹2 Per Equity Share 
  • Issue Price ₹5625 Crores: ₹3,750 Cr Fresh Issue + ₹1,875 Cr Offer for Sale
  • Listing at BSE, NSE
  • List Price 1150.00(NSE)
  • Listing Date 2021-11-15
  • Lead Manager Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited , Citigroup Global Markets India Private Limited, ICICI Securities Limited, HDFC Bank Limited, IIFL Securities Limited, Jefferies India Private Limited
  • Registrar Link Intime India Private Limited
IPO Details
  • Retail Portion 10% (Number of Retail Applications : 3,88,300 Approx)
IPO Documents
IPO Details


The IPO of is priced at ₹940-980 per equity share, which has a face value of ₹2 Per Equity Share  each, IPO bidding starts from Nov 1, 2021 and ends on Nov 3, 2021. The allotment for IPO will be finalized on Nov 10, 2021. IPO will be listed on BSE, NSE, with a tentative listing date fixed as Nov 15, 2021. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Limited is the registrar of the issue.

The book-running lead manager for the IPO is/are Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited , Citigroup Global Markets India Private Limited, ICICI Securities Limited, HDFC Bank Limited, IIFL Securities Limited, Jefferies India Private Limited.


The IPO sets its price band at 940-980 for each share. A single application for PB Fintech Limited (PolicyBazaar IPO) must contain at least 15 shares.

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IPO Subscription Analysis And Details
Retail
3.31x
QIB
24.88x
NII
7.83x
Total
16.58x
As on QIB NII Retail Total
Shares Offered / Reserved 174,78,720 87,39,359 58,26,239 320,44,318
Day 1 01-11-21 04:30 PM
0.56 x 0.04 1.04 x 0.50 x
Day 2 02-11-21 04:30 PM
2.09 x 0.24 2.04 x 1.59 x
Day 3 03-11-21 05:00 PM
24.88 x 7.83 3.31 x 16.58 x
Total No of Applications
1095622
Subscription on the basis of Applications
2.82
Valuations
Earnings Per Share (EPS) ₹N/A/-
P/E Ratio N/A
RoNW N/A%
Net Asset Value (NAV) - As on 30.06.21 ₹51.19
Company Financials
In Crs.
In Cr.
31-Mar-21 31-Mar-20 31-Mar-19
Assets 2,330.72 1,575.99 751.44
Revenue 957.41 855.56 528.80
Profit After Tax (150.24) (304.02) (346.81)
About Company

Policybazaar, their 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 2014, they 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.

According to Frost & Sullivan, in Fiscal 2020, Policybazaar was India’s largest digital insurance marketplace with a 93.4% market share based on the number of policies sold. Furthermore, in Fiscal 2020, 65.3% of all digital insurance sales in India by volume was transacted through Policybazaar.

Their Policybazaar and Paisabazaar platform offerings address the large and highly underpenetrated online insurance and lending markets. They have an asset-light capital strategy and do not underwrite any insurance or retain any credit risk on their books. Policybazaar is registered with and regulated by IRDAI as a direct (life and general) insurance broker.

They have built India’s largest online platform for insurance and lending products leveraging the power of technology, data, and innovation, according to Frost & Sullivan.

They provide convenient access to insurance, credit, and other financial products and aim to create awareness amongst Indian households about the financial impact of death, disease, and damage. Through their consumer-centric approach, they seek to enable online research-based purchases of insurance and lending products and increase transparency, which enables consumers to make informed choices.

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- Promoter(s)

Pre Issue Share Holding : N/A%

Post Issue Share Holding : N/A%

IPO - Issue Objectives
1

For enhancing visibility and awareness of company’s brands, including but not limited to “Policybazaar” and “Paisabazaar” - Rs.15,000 Million;

2

New opportunities to expand company’s consumer base including offline presence - Rs.3,750 Million;

3

Funding strategic investments and acquisitions - Rs.6,000 Million;

4

Expanding presence outside India - Rs.3,750 Million; and

5

General corporate purposes.

IPO - Anchor Investors

Policybazaar mobilises Rs 2,569.37 crore from 155 anchor investors

Marquee investors participated in the anchor book were New World Fund Inc, American Funds Insurance Series, Blackrock, Baillie Gifford, Pacific Horizon Investment Trust Plc, Canada Pension Plan Investment Board, Fidelity Funds, Abu Dhabi Investment Authority, Goldman Sachs, Aberdeen Global, Nomura, Carmignac Portfolio, Schroder Fund, Baron, and WF Asian Smaller Companies Fund.

Domestic investors also invested in the insurance aggregator and consumer credit company including HDFC MF, ICICI Prudential, SBI MF, Axis MF, Aditya Birla Sun Life Trustee, Kotak Mutual Fund, Nippon Life, UTI MF, Franklin MF, DSP MF, Bajaj Allianz Life Insurance, HDFC Life Insurance, SBI Life Insurance, and Max Life Insurance