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Here's why Policybazaar founders chose to go public

<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

CMS Info Systems, PB Fintech, Power Grid and other hot stocks on the last trading day of the year

<ul><li>Over 50% of <keyword id="12056148" type="General" weightage="20" keywordseo="pb-fintech-ipo" source="Orion">PB Fintech IPO</keyword> has been subscribed on the first day of the IPO bidding process.</li><li>The company intends to raise ₹5,709 crore with this public issue, at a valuation of $6 billion.</li><li>PolicyBazaar will use this funding to make strategic investments and acquisitions.</li><li>You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.</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 over 50% on the first day of IPO. The IPO of the company started today and has subscribed 0.58 times on the first day. Shares allotted to retail investors have been subscribed 1.23 times. 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. Overall, investors have bid for 1.85 crore shares from 3.20 crore shares open for subscription. According to <a href="https://www.livemint.com/market/ipo/policybazaar-ipo-gmp-subscription-status-other-details-should-you-subscribe-11635732095036.html">reports</a>, Policybazaar shares are available at a premium of ₹150 in the grey market. The IPO started on November 1 and will close on November 3 with a price band of ₹940 - ₹980 per share. The issue size of the IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale of ₹1,959 crore by its existing shareholders. The company said it will use ₹1500 crore of the IPO 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. Further, promoters are <a href="https://economictimes.indiatimes.com/tech/startups/policybazaar-founders-to-cut-sale-of-own-shares-in-ipo-by-85-90/articleshow/87446355.cms">reportedly </a>selling a lot fewer shares than they had initially planned with the belief that the stock has significant headroom for growth post listing. PolicyBazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue soon. 95% of PolicyBazaar’s revenue comes from commissions from insurance companies on selling policies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/there-are-five-ipo-openings-in-the-next-15-days-of-november-including-paytm-policybazaar/slidelist/87455241.cms#slideid=87455871">The next ten days are big for IPO investors ⁠— hope you have cash set aside</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/policybazaar-ipo-the-grey-market-is-paying-150-a-share-extra-to-buy-the-shares-before-the-ipo/articleshow/87453983.cms">Policybazaar IPO ⁠— the grey market is paying ₹150 a share extra to buy the shares before the IPO</a>

Policybazaar IPO: Second day to subscribe to the IPO, grey market premium at ₹150

<ul><li>PB Fintech, parent company of PolicyBazaar, has announced to open its IPO on November 1 and close on November 3.</li><li>The internet company has set a price band of ₹940-₹980 per share.</li><li>Shares of the company are scheduled to list on November 15.</li></ul>PB Fintech, the parent company of online fintech marketplaces PolicyBazaar and PaisaBazaar, has announced its plan to open the initial public offering (IPO) next week. The IPO of the internet company will open on November 1 and close on November 3 with a price band of ₹940-₹980 per share. The issue size of the IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale of ₹1,959 crore by its existing shareholders. Promoters selling share in the IPO include SVF Python II (Cayman) selling shares worth ₹1,875 crore, Yashish Dahiya -- the chief executive of PolicyBazaar -- worth ₹30 crore, Alok Bansal worth ₹12.75 crore, Shikha Dahiya worth ₹12.50 crore and Rajendra Singh Kuhar worth ₹3.50 crore. In addition, Founders United Trust will sell around 2.68 lakh shares, which aggregates to over ₹26 crore on the upper price band. PB Fintech has built two of the largest platforms for insurance and lending products through PolicyBazaar and PaisaBazaar. India’s largest online insurance aggregator, PolicyBazaar, was launched in 2008. It is one of the biggest beneficiaries of the boom in India’s insurance sector as a market leader in selling insurance online. PolicyBazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue soon. 95% of PolicyBazaar’s revenue comes from commissions from insurance companies on selling policies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fino-payments-bank-will-be-the-first-fintech-startup-in-india-to-get-listed-on-the-bourses-and-it-is-profitable/articleshow/87280457.cms">Fino Payments Bank will be the first fintech startup in India to get listed on the bourses and it is profitable</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/after-raising-2-billion-since-2020-byjus-is-now-looking-to-raise-another-500-million-in-debt-to-acquire-more-businesses/articleshow/87276471.cms">After raising $2 billion since 2020, Byju’s is now looking to raise another $500 million in debt to acquire more businesses</a>

PolicyBazaar’s parent to open its ₹5,700 crore IPO on November 1

The next ten days are big for IPO investors ⁠— hope you have cash set aside

<ul><li>Brokerage house ICICI Securities has issued a buy call for the shares of <keyword id="11111226" type="General" weightage="20" keywordseo="pb-fintech" source="Orion">PB Fintech</keyword>.</li><li>The target price continues to be lower than the price at which PB Fintech’s shares were allotted in the IPO.</li><li>PB Fintech’s shares have dropped nearly 431% since its listing in November last year.</li></ul>Brokerage house ICICI Securities on Monday issued a buy call for the shares of PB Fintech, the parent company of <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword> and PaisaBazaar, with a target price of ₹940. “PB Fintech is well placed to benefit from the rising insurance penetration in India, especially through digital distribution. High growth, operating leverage, strong balance sheet and established brand recall among the Indian populace are its key business moats. This should help the company generate strong free cash flows as we expect its cost-to-income ratio to plateau ahead,” the brokerage house said. PB Fintech (formerly known as EtechAces Marketing and Consulting) was founded by the Indian Institute of Technology (IIT) Delhi and Indian Institute of Management (IIM) Ahmedabad alumni Yashish Dahiya, Alok Bansal and Avaneesh Nirjar in 2008. PB Fintech went public in November 2021, a few days before digital payments giant Paytm. The company listed on the stock exchange at a premium of 17%, at ₹1200, over the issue price of ₹980. The company’s market cap reached <a href="https://www.businessinsider.in/stock-market/news/policybazaar-starts-trading-at-1150-a-premium-of-17/articleshow/87708748.cms">$7.3 billion</a> on the day of listing. However, the company’s shares have largely been on a downward trajectory since then. PB Fintech’s shares have dropped nearly 431% since its listing and were trading at ₹771.9 at 2:15 p.m. on Monday. <div type="image" title="ICICI Securities gives a ‘buy’ call on PolicyBazaar and PaisaBazaar — know the target price" msid="90909894" hostid="261"></div> PolicyBazaar, an online platform for users to purchase insurance policies, is one of the largest subsidiaries of PB Fintech. The insurance company owns 93.4% market share in India, in terms of the number of policies sold online. Six in 10 instance sales in India in FY20 happened through PolicyBazaar, the report added. ICICI Securities highlighted that the prime growth driver for PB Fintech would be the increasing premium income expected in online insurance. PolicyBazaar’s addressable market has largely been individual life insurance, retail health, and motor insurance. <div type="image" title="ICICI Securities gives a ‘buy’ call on PolicyBazaar and PaisaBazaar — know the target price" msid="90909901" hostid="261"></div> Other subsidiaries of PB Fintech include online lending platform PaisaBazaar (launched in 2014) and healthtech venture <a href="https://inc42.com/buzz/policybazaar-looks-to-tap-softbanks-portfolio-companies-for-docprime/">DocPrime</a> (launched in 2018), which lets visitors book consultations with doctors or schedule a range of medical tests. PaisaBazaar was India’s largest digital consumer credit marketplace with a 51.4% market share, based on disbursals. Other major players in the digital consumer credit marketplace include BankBazaar and CreditMantri, according to ICICI Securities. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-and-swiggy-are-now-backing-restaurant-management-company-urbanpiper/articleshow/90908052.cms" data-type="tilCustomLink">Zomato and Swiggy invest in this restaurant management company that fulfils 2 in 10 food deliveries in India</a> <a href="https://www.businessinsider.in/india/news/extreme-poverty-in-india-declined-12-in-the-last-decade-says-world-bank/articleshow/90905593.cms" data-type="tilCustomLink">Extreme Poverty in India declined 12% in the last decade, says World Bank</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/hdfc-bank-infosys-tata-power-among-stocks-to-watch-out-for-on-april-18/slidelist/90902769.cms">HDFC Bank, Infosys, Tata Power among stocks to watch out for on April 18</a>

ICICI Securities gives a ‘buy’ call on PolicyBazaar and PaisaBazaar — know the target price

<ul><li><keyword id="11111226" type="UNKNOWN" weightage="20" keywordseo="pb-fintech">PB Fintech</keyword> has also converted itself to a public limited company ahead of the IPO process.</li><li>The company received stakeholders’ approval to go public in an EGM held on July 5, 2021.</li><li>The company is reportedly seeking a valuation of $3.5 billion with this public issue. </li></ul> Online insurance marketplace <keyword id="696009" type="COMPANY" weightage="20" keywordseo="Policybazaar">PolicyBazaar</keyword>’s parent company PB Fintech has converted itself to a public limited entity and is planning to raise ₹6,500 crore (around $871 million) via an initial public offering (IPO), the company’s regulatory filings have revealed. PB Fintech has also received approval for IPO at the Extraordinary General Meeting (EGM) held on July 5. The latest details about PolicyBazaar’s ₹6,500 crore IPO was first <a href="https://www.moneycontrol.com/news/business/ipo/policybazaar-parent-firm-pb-fintech-aims-to-raise-rs-6500-crore-via-ipo-7199181.html">reported </a>by CNBC TV18. PB Fintech (formerly known as EtechAces Marketing and Consulting) was founded by Indian Institute of Technology-Delhi and Indian Institute of Management-Ahmedabad alumni Yashish Dahiya, Alok Bansal and Avaneesh Nirjar in 2008. PolicyBazaar, an online platform for users to purchase <keyword id="35504" type="PERSON" weightage="20" keywordseo="insurance-policies">insurance policies</keyword>, is one of the subsidiaries of PB Fintech. Other subsidiaries of PB Fintech include online lending platform PaisaBazaar (launched in 2014) and healthtech venture <a href="https://inc42.com/buzz/policybazaar-looks-to-tap-softbanks-portfolio-companies-for-docprime/">DocPrime</a> (launched in 2018), which lets visitors book consultations with doctors or schedule a range of medical tests. Notably, PolicyBazaar is the only entity that is going public from PB Fintech’s banner. PolicyBazaar has raised around $766 million to date. It was reportedly valued at $2.4 billion in March this year, after it raised <a href="https://economictimes.indiatimes.com/tech/funding/policybazaar-rejigs-cap-table-with-a-45-mn-round-at-2-4-bn-valuation/articleshow/81301551.cms">$45 million</a> through a secondary share sale from private equity (PE) firm True North and a few other individual investors. The company’s investors include <keyword id="260318" type="COMPANY" weightage="20" keywordseo="Tiger-Global-Management">Tiger Global Management</keyword>, <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, <keyword id="11685950" type="UNKNOWN" weightage="20" keywordseo="tencent-wellington-management">Tencent, Wellington Management</keyword>, <keyword id="1430452" type="ORGANIZATION" weightage="20" keywordseo="PremjiInvest">PremjiInvest</keyword> and Falcon Edge Capital, among others. According to a <a href="https://www.bloomberg.com/news/articles/2021-04-07/softbank-backed-policybazaar-said-to-plan-ipo-filing-next-month">Bloomberg</a> report published in April 2021 citing anonymous sources, PolicyBazaar was planning to go public before the end of this year. Meanwhile, several reports suggest that PolicyBazaar could be valued at more than $3.5 billion in its IPO. In February this year, it was reported that PolicyBazaar was<a href="https://inc42.com/buzz/policybazaar-close-to-finalising-bankers-for-ipo-at-3-5-bn-valuation/"> finalising bankers</a> for its over $540 million IPO to be listed in India. PB Fintech was said to have invited proposals from at least eight investment banks for the proposed IPO. The company is expected to dilute up to a 15% stake in the public offering. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/swiggy-raises-1-25-billion-in-a-mega-round-of-funding-led-by-softbank-and-prosus/articleshow/84578974.cms" style="">Swiggy gets a $1.25 billion cheque from Softbank for the same reason Zomato went for an IPO</a> <a href="https://www.businessinsider.in/business/startups/news/globalbees-has-raised-150-million-in-few-months-of-launch-to-acquire-more-businesses/articleshow/84552291.cms" style="">GlobalBees, a Thrasio-style startup launched by FirstCry and Edelweiss execs, raises $150 million in few months of launch</a> <a href="https://www.businessinsider.in/tech/news/how-to-find-out-if-your-phone-is-infected-by-the-pegasus-spyware/articleshow/84578193.cms" style="">This toolkit will tell you if your phone is infected by the Pegasus spyware</a>

PolicyBazaar plans to raise close to $870 million through its IPO at a likely valuation of $3.5 billion

<ul><li>The online insurance broker’s stock tanked by around 12% as CEO Yashish Dahiya plans to sell up to 37.69 lakh lakh equity shares.</li><li>Dahiya holds 5.45% stake or 2.45 crore shares in the company.</li><li>Investor sentiment took a huge hit after the company announced that the CEO itself is selling stake amid difficult market conditions.</li></ul>Shares of PB Fintech, the parent company of <keyword id="696009" type="General" weightage="20" keywordseo="Policybazaar" source="Orion">PolicyBazaar</keyword> and PaisaBazaar, took a deep dive after the company’s CEO sold his shares. The company informed exchanges at around 10 pm on June 6 that Yashish Dahiya, chairman and CEO of PB Fintech will sell up to 37 lakh equity shares via bulk deals. Since then, the stock went down by over 12% and its marketcap shrunk by around ₹3,000 crore or around $400 million since yesterday’ close, as per NSE data. Before the sale, Dahiya held a 5.45% stake in the company, which he received as ESOPs. Dahiya however would be selling his stake at a price lower than the company’s founders. In February, the co-founder of the company Alok Bansal sold 2.85 million shares for ₹236 crore at an average price of ₹825 apiece. In 2022 so far, the stock has slid 52% and is currently 40% below its IPO price. PolicyBazaar raised ₹5,709 crore via IPO in November 2021 which included fresh issue as well as offer for sale by promoters. Policybazaar is among the slew of tech companies that got listed in 2021 -- Zomato, Paytm and Nykaa. Unlike most of the companies that listed this year, PolicyBazaar’s investors enjoyed good listing gains of 17% on the issue price. PB Fintech’s business model to enjoy higher growth than other insurance players Analysts however believe the company is well placed to benefit from the rising insurance penetration in India, especially via digital distribution. “High growth, operating leverage, strong balance sheet and established brand recall among the Indian populace are its key business moats. This should help the company generate strong free cash flows as we expect its cost-to-income ratio to plateau ahead,” said a report by ICICI Securities. The brokerage expects the share price to grow to ₹940 per share. In FY20, PolicyBazaar was India’s largest digital insurance marketplace with 93% market share in terms of the number of policies sold. Also, 65% of all digital insurance sales in India in FY20 happened via PolicyBazaar. PolicyBazaar is largely into individual life insurance, retail health and motor insurance. This reflects in its overall revenues that doubled in three years between FY19 to FY21 at ₹606.9 crore. PolicyBazaar and PaisaBazaar platforms have large networks that provide consumers with the ability to browse financial service products offered by 51 insurer partners and 54 lending partners. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/paytm-could-be-entering-a-low-cost-high-profit-margin-regime-say-a-brokerage-firm/articleshow/92054964.cms">PayTM could be entering a low cost-high profit margin regime, say a brokerage firm</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/retail/e-commerce/news/tataneu-could-be-worth-15-billion-all-thanks-to-bigbasket-croma-and-westside/articleshow/92052094.cms">TataNeu could be worth $15 billion all thanks to BigBasket, Croma and Westside</a>

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Here's why Policybazaar founders chose to go public

Business Insider India

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

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CMS Info Systems, PB Fintech, Power Grid and other hot stocks on the last trading day of the year

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Policybazaar IPO: Second day to subscribe to the IPO, grey market premium at ₹150

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PolicyBazaar’s parent to open its ₹5,700 crore IPO on November 1

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The next ten days are big for IPO investors ⁠— hope you have cash set aside

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ICICI Securities gives a ‘buy’ call on PolicyBazaar and PaisaBazaar — know the target price

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PolicyBazaar plans to raise close to $870 million through its IPO at a likely valuation of $3.5 billion

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Policybazaar’s value shrinks by around $400 mn in a day after its CEO sells shares

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