Policybazaar mother or father agency’s IPO to open on Nov 1; worth band set at Rs 940-980/share

PB Fintech, which operates on-line insurance coverage platform Policybazaar and credit score comparability portal Paisabazaar, on Wednesday fastened a worth band of Rs 940-980 a share for its Rs 5,710-crore preliminary share sale, which can open on November 1.
The three-day preliminary public providing (IPO) will conclude on November 3, the corporate introduced in a digital press convention.
The Rs 5,710-crore IPO contains a contemporary subject of Rs 3,750 crore price of fairness shares and a suggestion on the market of about Rs 1,960 crore by present shareholders.
As a part of the provide on the market (OFS), SVF Python II (Cayman) will promote shares price Rs 1,875 crore, Yashish Dahiya will offload shares price Rs 30 crore, Alok Bansal will divest shares price Rs 12.75 crore, Shikha Dahiya will promote shares to the tune of Rs 12.25 crore and Rajendra Singh Kuhar will offload shares price Rs 3.5 crore.

In addition, Founder United Trust will promote round 2,67,500 shares and on higher band worth it come round Rs 26.21 crore.
Of your complete subject, 75 per cent might be reserved for certified institutional consumers, 15 per cent for non-institutional traders and the remaining 10 per cent for retail traders.
Investors can bid for at least 15 fairness shares and in multiples of 15 fairness shares thereafter.
Proceeds of the contemporary subject might be used in direction of enhancing visibility and consciousness of the corporate’s manufacturers, to search for new alternatives to develop progress initiatives to extend the buyer base together with offline presence.
Also, the proceeds from the IPO might be used for funding strategic investments and acquisitions, increasing presence exterior India and common company goal.
Kotak Mahindra Capital Company,Morgan Stanley India Company, Citigroup Global Markets India, ICICI Securities, HDFC Bank Ltd, IIFL Securities and Jefferies India are the e-book operating lead managers to the problem.

PB Fintech is the main on-line platform for insurance coverage and lending merchandise, leveraging the ability of expertise, knowledge and innovation.
It supplies handy entry to insurance coverage, credit score and different monetary merchandise and purpose to create consciousness amongst Indian households in regards to the monetary affect of demise, illness and harm.