Policybazaar IPO will open for subscription on November 1, know how much the price band of the issue has been decided

Online insurance marketplace Policybazaar IPO is opening for subscription on 1st November 2021. Apart from this, the issue of PB Fintech, the parent company of Paisabazaar, is also opening on the first day of November 2021. These IPOs will also close on November 3. The price band of the issue of Policy Bazaar has been fixed at Rs 940-980. After the IPO, the policy will be listed on the stock exchanges on 15 November 2021.

How much will be the fresh shares, who will sell the stake?

Policy Bazaar is working on a plan to raise Rs 5,709.72 crore through its IPO. Fresh shares worth Rs 3,750 crore will be issued under the IPO. At the same time, the company will sell shares in the Offer for Sale (OFS) worth Rs 1,959.72 crore. SVF Python II (Cayman) will sell shares worth Rs 1,875 crore in the offer for sale. At the same time, Yashish Dahiya will sell shares worth Rs 30 crore. After him, Alok Bansal will sell shares worth Rs 12.75 crore and Shikha Dahiya will sell shares worth Rs 12.50 crore. Rajendra Singh Kuhar for Rs 3.50 crore, while the company’s founder United Trust will sell 2.68 lakh shares.

What will be the value of PolicyBazaar IPO?

According to the upper price band of the issue, the policy market IPO will be valued at Rs 26.22 crore. According to the IPO document, SVF Python II (Cayman) holds a 9.45 percent stake in the company. At the same time, Yashish Dahiya holds a 4.27 percent stake in the company and Alok Bansal holds a 1.45 percent. The company has set a valuation target of up to $6 billion. Many big investors have invested money in the company. It has investments from SoftBank, Temasek, InfoEdge, Tiger Global, and Premji Invest.

100 million visitors annually visit the company site

The book running lead managers of Policy Bazaar are Kotak Mahindra Capital, Morgan Stanley, Citigroup Global Markets India, ICICI Securities, SDFC Bank, IIFL Securities, and Jefferies India. Policybazaar provides its customers with the facility to assess auto, health, life insurance, and general insurance policies. Every year 100 million visitors come to the site of Policy Bazaar. The company sells 4 lakh policies every month.