PB Fintech Ltd operates an online insurance platform Policybazaar and Paisabazaar that received the SEBI's approval to float an IPO worth ₹6,017 crores. The IPO comprises a fresh issue of ₹3,750 crores and an offer for sale (OFS) of ₹2,267 crores by existing shareholders.
The company filed its DRHP in August 2021 and according to the DRHP, the company may consider raising around ₹750 crores via private equity shares. The offer for sale (OFS) will include shares of SVF Python II (Cayman) (shares worth ₹1,875 crores), Yashish Dahiya (shares worth ₹250 crores), and other shareholders selling their stake. The IPO funds will be used to get more visibility of the brand and to look for new opportunities for the growth of the company in online and offline segments. The funds will also be used for general corporate purposes, strategic investments, acquisitions, and expanding the brand presence in India and outside India as well.
As per the grey market the stock is trading in a range between ₹200 to ₹300 range even the price band or the Policybazaar IPO date is not announced. The PB Fintech unlisted share price is not available as per the sources. We can expect the primary market to react very well after we got some good listings in the last few months. Policybazaar is one of the well-known brands and it might be lit up the primary market this Diwali.
The face value of the IPO is ₹2 per equity share. The retail quota is 10% as per the DRHP. The lead managers of the company 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, and Jefferies India Private Limited.