Ultimate magazine theme for WordPress.

Policybazaar IPO Subscription News: Policybazaar Initial Public Offer (IPO) starts on November 1st (Monday): 10 key points

Policybazaar IPO: The company has set the price range from Rs 940 to Rs 980 per share

The initial public offering (IPO) Policybazaar – the country’s leading online insurance aggregator opens for subscription on Monday November 1st. Policybazaar, operated by PB Fintech, is an online platform for consumers and insurance partners to buy and sell insurance products. It is aimed at customers who need information, choice and transparency about insurance policies.

Policybazaar IPO: 10 Things You Should Know

  1. IPO data: The tender for the IPO of the insurance marketplace begins on November 1 and ends on November 3, 2021. The allocation date is based on November 10. The issue is expected to be listed on the BSE and NSE stock exchanges in November 2021.

  2. IPO price range: The company has set a price range of Rs 940 to Rs 980 per share for its public offering.

  3. IPO details: The offer includes a reissue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore from existing promoters and shareholders. The issue volume is 7/6/30,265 shares with a nominal value of 2 rupees each.

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

  5. Fundraising: According to certain media reports, Policybazaar aims to raise around 5,710 billion rupees through public spending.

  6. Output destinations: Policybazaar plans to use the proceeds of its new issues, after supply-related costs, to increase its visibility and brand awareness (including, but not limited to, Policybazaar and Paisabazaar) (Rs.1,500 billion)
    – It is planned to use Rs 375 crore for new opportunities to expand the consumer base including offline presence
    – Rs 600 billion will be used for strategic investments and acquisitions
    – Rs.375 billion will be used to expand the company’s presence outside of India
    -General corporate purposes.

  7. Company profile: Policybazaar offers users pre-purchase, pre-purchase research, including application, inspection, medical examination, and payment; and manage post-purchase policies, including loss relief, renewals, cancellations, and refunds. As of March 2021, 51 insurance partners were offering more than 340 term, health, motor, household and travel insurance policies on the Policy Bazaar platform.

  8. Competitive strengths: Offers customers choice and transparency in the research and selection of insurance and personal loan products.
    -Technology solutions that focus on automation and self-service driven consumer experiences that require minimal human intervention.

  9. Finances: PB Fintech recorded a consolidated loss of Rs.150.24 billion in FY2020-21 compared to a loss of Rs. 304 billion in FY20 and a loss of Rs.346.81 billion in FY19. In the same period, business income increased from Rs 771.29 billion and Rs 492.24 billion, respectively, to Rs 886.66 billion.

  10. What analysts say: “At the upper end of the price range, the issue is aggressively valued at 45 times its price / sales (based on annualized sales for fiscal year 22). However, given a penchant for novel technology-based startups, the issue could enjoy a premium rating.
    Given the euphoria about this issue, shares traded in the Rs 2,100-2,300 range on the unlisted market last week. Investors with a higher risk appetite looking to gain exposure to a technology-based niche platform should consider investing in the issue, “SEBI-registered investment advisor INDmoney said in a report.

Comments are closed.