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<ul><li><a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms" data-type="tilCustomLink"></a><keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword> launched its public issue on November 1, at a price band of ₹940-₹980.</li><li>Investors have bid for 5.47 crore shares from 3.45 crore shares open for subscription.</li><li><keyword id="11111226" type="General" weightage="20" keywordseo="pb-fintech" source="Orion">PB Fintech</keyword> intends to raise ₹5,709 crore at a valuation of $6.1 billion (₹45,500 crore).</li></ul>The initial public offering (IPO) of PB Fintech — the parent company of insurance selling platform PolicyBazaar and lending platform PaisaBazaar — has been subscribed by 1.59 times in the first two days of its initial public offering (IPO). PolicyBazaar, which intends to raise ₹5,709 crore at a valuation of $6.1 billion (₹45,500 crore), launched its public issue on November 1 and today is the last date to subscribe. The shares are available at a price band of ₹940-₹980. The lot size has been set up at 15 shares, taking the value of one lot to ₹14,700. Overall, investors have bid for 5.47 crore shares from 3.45 crore shares open for subscription. Retail investors subscribed to PolicyBazaar’s IPO 2.04 times. Qualified institutional buyers (QIB) have subscribed to the Policybazaar’s IPO by 2.08 times and non-institutional investors have subscribed 23%. Overall, the IPO was subscribed 1,59 times. <div type="Video" msid="87578802" hostid="261" title="Here's why Policybazaar founders chose to go public" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=87578802"></div> According to <a href="https://www.livemint.com/market/ipo/policybazaar-ipo-gmp-subscription-status-other-details-should-you-subscribe-11635732095036.html">reports</a>, <keyword id="12401663" type="General" weightage="20" keywordseo="policybazaar-shares" source="Orion">Policybazaar shares</keyword> are available at a premium of ₹150 in the grey market. You can easily <a href="https://www.businessinsider.in/business/startups/news/policybazaar-ipo-will-open-today-here-is-how-to-apply-via-bank-and-apps-like-zerodha-paytm-money/articleshow/87370279.cms">apply to the Policybazaar IPOs </a>via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others. PolicyBazaar’s IPO will include fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore from existing investors. According to PB Fintech’s red herring prospectus (RHP), the company will use ₹1500 crore of the proceeds to create brand awareness for PolicyBazaar and PaisaBazaar. Besides this, PolicyBazaar will also invest an additional ₹600 crore on funding strategic investments and acquisition. The company will also invest capital to grow its user base both online and offline as well as build its presence online. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms" data-type="tilCustomLink">Logistics startup Delhivery files for a nearly $1 billion IPO</a> <a href="https://www.businessinsider.in/finance/banks/news/former-sbi-chairman-pratip-chaudhuris-arrest-will-lead-to-policy-paralysis-say-experts/articleshow/87482347.cms" data-type="tilCustomLink">The arrest of former SBI chief Pratip Chaudhuri may prevent bankers from making any risky decisions, say experts</a> <a href="https://www.businessinsider.in/business/telecom/news/elon-musk-owned-starlink-forms-subsidiary-in-india-will-soon-apply-for-licenses/articleshow/87480590.cms">Elon Musk-owned Starlink forms subsidiary in India, will soon apply for licenses</a>

PolicyBazaar IPO — Today is the last day to subscribe, grey market premium at ₹150

<ul><li>An American fund, owned by the Capital Group, bought one in every three shares of PB Fintech that are available for trading.</li><li>Newly-listed Sigachi, being one of the top players in its segment without any listed peer, saw its shares continue to ride the scarcity premium.</li><li>Check out the latest news, analysis and updates on <a href="https://www.businessinsider.in/stock-market/news">Business Insider</a>.</li></ul>Shares of PB Fintech ⁠— the company that owns the online insurance platform <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword> and [descriptor] Paisabazaar ⁠— spiked another 17% a day after its listing on the stock exchange. The shares were trading at ₹1,408.00 at 9:59 a.m. on November 16, increasing its market cap to ₹63,289 crore ($8.5 billion). The same day, Sigachi Industries, another stock that is just a day old on the Indian bourses, hit the upper circuit ⁠— which halts trading in the script temporarily ⁠— after surging 5%. An American fund, part of the Capital Group, lapped up nearly 3.5 million shares of Policybazaar at ₹1,912 a piece on Monday, <a href="https://www.chittorgarh.com/newportal/stock-nse-bulk-deals.asp">according to bulk deals from the National Stock Exchange</a>. That’s nearly 3% of the shares available for trading. The company was listed on the stock exchange yesterday, at a premium of 17% over the issue price of ₹980. The company has given another 17% returns to its investors since yesterday. The excitement around Sigachi was visible at listing ⁠— when the stock spiked over<a href="https://www.businessinsider.in/stock-market/news/shares-of-sigachi-industries-list-at-575-while-the-shares-were-allotted-at-163-per-share/articleshow/87708763.cms"> 3 times the issue price</a> ⁠— and continued on day two. Experts have advised to hold on to the Sigachi stock for long term gains given that it is one of the leading manufacturers of cellulose-based excipients in India. There are no other listed entities in this domain. The company plans to expand its business further with the capital it has raised from this public issue, which will give it an edge over other private players. “Sustained demand for microcrystalline cellulose (MCC) from various industries and the expansion programme, earnings growth momentum looks sustainable. It has been paying a dividend consistently for the last three years, which bodes well,” <a href="https://www.businessinsider.in/stock-market/news/sigachi-industries-ipo-grey-market-premium-rises-to-160/articleshow/87484497.cms">Reliance Securities had said</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/jpmorgan-takes-tesla-to-court-over-elon-musks-2018-tweets-demands-162-million/articleshow/87729405.cms" data-type="tilCustomLink">JPMorgan takes Tesla to court over Elon Musk’s 2018 tweets ⁠— demands $162 million</a> <a href="https://www.businessinsider.in/thelife/news/the-un-responded-to-elon-musks-challenge-to-prove-how-his-wealth-could-tackle-world-hunger-by-revealing-a-6-6-billion-plan/articleshow/87726851.cms" style="">The UN responded to Elon Musk's challenge to prove how his wealth could tackle world hunger by revealing a $6.6 billion plan</a> <a href="https://www.businessinsider.in/politics/world/news/elon-musk-initiates-another-twitter-fight-by-squabbling-with-bernie-sanders-over-extreme-wealth/articleshow/87706421.cms" style="">Elon Musk initiates another Twitter fight by squabbling with Bernie Sanders over extreme wealth</a>

Policybazaar gets a boost after an American fund laps up 3.4 million shares and Sigachi hits upper circuit on the morning after listing

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PolicyBazaar IPO — Today is the last day to subscribe, grey market premium at ₹150

Kritti Bhalla

Policybazaar gets a boost after an American fund laps up 3.4 million shares and Sigachi hits upper circuit on the morning after listing

Kritti Bhalla

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