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PB Fintech IPO subscribed more than 2 times on the last day of bidding

NEW DELHI: The initial public offering (IPO) of PB Fintech, the parent company of Policybazaar and Paisabazaar, for $ 5,650 billion

As of 12:33 p.m., the issue was subscribed 2.13 times. She received applications for 7,36,76,655 shares against an offer of 3.45.12.186 shares.

PB Fintech raised Rs 2,569.37 billion from 155 anchor investors on Friday, the day before the IPO opened. The company completed the allotment of 2.62 crore shares to anchor investors at a price of Rs 980 per share. The company sells its shares in the range of Rs 940-980 apiece.

The issue has generated mixed recommendations from analysts, with some raising questions about valuation. However, the majority believe that given the insurance market not yet penetrated, it is an issue worth including.

Amarjeet Maurya, AVP-Mid Caps, Angel One, said the company provides convenient access to insurance, credit and other financial products and aims to create awareness in India of the financial impact of death, disease and harm.

“In terms of valuations, the EV / Sales value after the issue for FY2021 is 47.6x, which is high given historical performance in terms of bottom line,” added Maurya, who has a “neutral” valuation of the issue recommended.

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