Policybazaar IPO Opens On Monday: 10 Things To Know


Policybazaar IPO Opens On Monday: 10 Things To Know

Policybazaar IPO: The company has fixed the price band of Rs 940 to Rs 980 per share

The initial public offer (IPO) Policybazaar – the country’s leading online insurance aggregator opens for subscription on Monday, November 1. Operated by PB Fintech, the Policybazaar is an online platform for consumers and insurer partners to buy and sell insurance products. It caters to customers who require information, choice, and transparency in terms of insurance policies.

  1. IPO Dates: The bidding for the insurance marketplace’s IPO will start on November 1 and close on November 3, 2021. The basis of the allotment date will be done on November 10. The issue is likely to be listed on stock exchanges BSE and NSE in November 2021.

  2. IPO Price Band: The company has fixed a price band of Rs 940 to Rs 980 per equity share for its public offer.

  3. IPO Details: The offer comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders.

  4. IPO Lead Managers: Citigroup Global Markets India, HDFC Bank, ICICI Securities Limited, IIFL Securities, Jefferies India, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company are the book running lead managers of the IPO

  5. Fund Raising: Policybazaar aims to raise around Rs 5,710 crore through the public issue, according to certain media reports.

  6. Issue Objectives: