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PolicyBazaar IPO is a book built issue of Rs 5,625.00 crores. The issue is a combination of fresh issue of Rs 3,750.00 crores and offer for sale of Rs 1,875.00 crores.
PolicyBazaar IPO bidding started from November 1, 2021 and ended on November 3, 2021. The allotment for PolicyBazaar IPO was finalized on Wednesday, November 10, 2021. The shares got listed on BSE, NSE on November 15, 2021.
PolicyBazaar IPO price band is set at ₹940 to ₹980 per share. The minimum lot size for an application is 15 Shares. The minimum amount of investment required by retail investors is ₹14,700.
Citigroup Global Markets India Private Limited, Hdfc Bank Limited, ICICI Securities Limited, Iifl Securities Ltd, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Pvt Ltd are the book running lead managers of the PolicyBazaar IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to PolicyBazaar IPO RHP for detailed information.
| IPO Date | November 1, 2021 to November 3, 2021 |
| Listing Date | November 15, 2021 |
| Face Value | ₹2 per share |
| Price Band | ₹940 to ₹980 per share |
| Lot Size | 15 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹5,625.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹3,750.00 Cr) |
| Offer for Sale | [.] shares of ₹2 (aggregating up to ₹1,875.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 411,234,500 |
| Share holding post issue | 449,499,806 |
PolicyBazaar IPO offers 34,512,186 shares. 19,329,621 (56.01%) to QIB, 9,109,539 (26.40%) to NII, 6,073,026 (17.60%) to RII. 404,868 RIIs will receive minimum 15 shares and (sNII) and (bNII) will receive minimum 210 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 19,329,621 (56.01%) | NA |
| NII (HNI) Shares Offered | 9,109,539 (26.40%) | |
| Retail Shares Offered | 6,073,026 (17.60%) | 404,868 |
| Total Shares Offered | 34,512,186 (100%) |
PolicyBazaar IPO opens on November 1, 2021, and closes on November 3, 2021.
| IPO Open Date | Monday, November 1, 2021 |
| IPO Close Date | Wednesday, November 3, 2021 |
| Basis of Allotment | Wednesday, November 10, 2021 |
| Initiation of Refunds | Thursday, November 11, 2021 |
| Credit of Shares to Demat | Friday, November 12, 2021 |
| Listing Date | Monday, November 15, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 3, 2021 |
Investors can bid for a minimum of 15 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 15 | ₹14,700 |
| Retail (Max) | 13 | 195 | ₹191,100 |
| Lot Size Calculator | |||
PB Fintech is India's leading online platform for insurance and lending products. The company provides convenient access to insurance, credit, and other financial products and aims to create awareness in India about the financial impact of death, disease, and damage.
In 2008, PB Fintech launched Policybazaar aimed at catering to consumers who need more information, choice, and transparency in insurance policies. Policybazaar is an online platform for consumers and insurer partners to buy and sell insurance products. 51 insurer partners offered over 340 term, health, motor, home, and travel insurance products on the policy bazaar platform, as of March 2021. Policybazaar offers its users with i) pre-purchase research, ii) purchase, including application, inspection, medical check-up, and payment; and iii) post-purchase policy management, including claims facilitation, renewals, cancellations, and refunds. The company's technology solutions are focused on automation and self-service-driven consumer experiences requiring minimal human intervention. According to Frost & Sullivan, Policybazaar was India's largest digital insurance marketplace with a 93.4% market share based on the number of policies sold in Fiscal 2020. Also, in the same year, 65.3% of all digital insurance sales in India by volume were transacted through Policybazaar.
PB Fintech also launched Paisabazaar in 2014 intending to provide ease, convenience, and transparency in selecting a variety of personal loans and credit cards for the consumers. The company has partnered with 54 large banks, NBFCs, and fintech lenders offering a wide choice of products to consumers across personal credit categories, including personal loans, business loans, credit cards, home loans, and loans against property. According to Frost & Sullivan, Paisabazaar was India's largest digital consumer credit marketplace with a 51.4% market share, based on disbursals in Fiscal 2020. During Fiscals 2019, 2020, and 2021, Paisabazaar enabled disbursals of ₹51,015 Mn, ₹65,496 Mn, and ₹29,168 Mn, respectively.
Competitive Strengths:
| Particulars | For the year/period ended (₹ in Millions) | ||||
|---|---|---|---|---|---|
| 30-Jun-21 | 30-Jun-20 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 22,789.05 | 18,555.10 | 23,307.26 | 15,759.99 | 7,514.48 |
| Total Revenue | 2,581.74 | 1,912.73 | 9,574.13 | 8,555.63 | 5,288.07 |
| Profit After Tax | (1,108.44) | (597.53) | (1,502.42) | (3,040.29) | (3,468.11) |
The net proceed from the IPO will be utilized towards the following purposes;
[Dilip Davda] Though the company is in operation for over a decade, it has not yet broken the ice to turn green. Based on all parameters, the issue is exorbitantly priced. No doubt recent madness for Unicorn and Tech IPOs following Zomato is still continuing and accepting fancy pricing of loss-making companies. Though the company has bright prospects going forward, its issue pricing discounts all near term positives. Hence, risk seeker/cash surplus investors may consider investment for the long term, others may avoid it. Read detail review...
The PolicyBazaar IPO is subscribed 16.59 times on November 3, 2021 5:00:00 PM. The public issue subscribed 3.31 times in the retail category, 24.89 times in the QIB category, and 7.82 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 24.89 |
| NII | 7.82 |
| Retail | 3.31 |
| Total | 16.59 |
| Listing Date | November 15, 2021 |
| BSE Script Code | 543390 |
| NSE Symbol | POLICYBZR |
| ISIN | INE417T01026 |
| Final Issue Price | ₹980 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹980.00 |
| ₹1,150.00 |
| ₹1,145.00 |
| ₹1,249.00 |
| ₹1,202.90 |
| NSE |
|---|
| ₹980.00 |
| ₹1,150.00 |
| ₹1,149.00 |
| ₹1,248.90 |
| ₹1,202.30 |
PB Fintech Limited
Plot No. 119,
Sector 44 Gurgaon,
Haryana 122 001, India
Phone: +91 124 456 2907
Email: investor.relations@pbfintech.com
Website: https://www.pbfintech.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: policybazaar.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Lead Manager Reports
PolicyBazaar IPO is a main-board IPO of [.] equity shares of the face value of ₹2 aggregating up to ₹5,625.00 Crores. The issue is priced at ₹940 to ₹980 per share. The minimum order quantity is 15 Shares.
The IPO opens on November 1, 2021, and closes on November 3, 2021.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in PolicyBazaar IPO using UPI as a payment gateway. Zerodha customers can apply in PolicyBazaar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in PolicyBazaar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The PolicyBazaar IPO opens on November 1, 2021 and closes on November 3, 2021.
PolicyBazaar IPO lot size is 15 Shares, and the minimum amount required is ₹14,700.
You can apply in PolicyBazaar IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for PolicyBazaar IPO will be done on Wednesday, November 10, 2021, and the allotted shares will be credited to your demat account by Friday, November 12, 2021. Check the PolicyBazaar IPO allotment status.
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