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PB Fintech Limited IPO (PolicyBazaar IPO) Detail

Nov 1, 2021 - Nov 3, 2021

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:

  • Providing a wide choice and transparency to customers to research and select insurance and personal credit products.
  • Proprietary Technology helps in superior data intelligence and customer service.
  • Collaborative partnership with various companies for insurance and lending products.
  • Strong network effects for Policybazaar and Paisabazaar platforms.
  • High renewal rates.
  • Capital efficient model with low operating costs.
  • Experienced Founders and management.

Company Financials:

Summary of financial Information (Restated Consolidated)
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)

Objects of the Issue:

The net proceed from the IPO will be utilized towards the following purposes;

  • For enhancing visibility and awareness of company’s brands, including but not limited to “Policybazaar” and “Paisabazaar” - Rs.15,000 Million;
  • New opportunities to expand company’s consumer base including offline presence - Rs.3,750 Million;
  • Funding strategic investments and acquisitions - Rs.6,000 Million;
  • Expanding presence outside India - Rs.3,750 Million; and
  • General corporate purposes.

PolicyBazaar IPO Details

IPO Opening Date Nov 1, 2021
IPO Closing Date Nov 3, 2021
Issue Type Book Built Issue IPO
Face Value ₹2 per equity share
IPO Price ₹940 to ₹980 per equity share
Market Lot 15 Shares
Min Order Quantity 15 Shares
Listing At BSE, NSE
Issue Size[.] Eq Shares of ₹2
(aggregating up to ₹5,625.00 Cr)
Fresh Issue[.] Eq Shares of ₹2
(aggregating up to ₹3,750.00 Cr)
Offer for Sale[.] Eq Shares of ₹2
(aggregating up to ₹1,875.00 Cr)

PolicyBazaar IPO Tentative Timetable

The PolicyBazaar IPO open date is Nov 1, 2021, and the close date is Nov 3, 2021. The issue may list on Nov 15, 2021.

IPO Open Date Nov 1, 2021
IPO Close Date Nov 3, 2021
Basis of Allotment Date Nov 10, 2021
Initiation of Refunds Nov 11, 2021
Credit of Shares to Demat Account Nov 12, 2021
IPO Listing Date Nov 15, 2021

PolicyBazaar IPO Lot Size

The PolicyBazaar IPO market lot size is 15 shares. A retail-individual investor can apply for up to 13 lots (195 shares or ₹191,100).

Application Lots Shares Amount (Cut-off)
Minimum 1 15 ₹14,700
Maximum 13 195 ₹191,100

PolicyBazaar IPO Subscription Status (Bidding Detail)

The PolicyBazaar IPO is subscribed 16.59 times on 11/3/2021 5:00:00 PM. The public issue subscribed 3.31 in the retail category, 24.89 in the QIB category, and 7.82 in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB24.89
NII7.82
Retail3.31
Total16.59

PolicyBazaar IPO Prospectus

PolicyBazaar IPO Rating

605
3.8
Rating:Rated 3.8 stars
Vote Here ...

PolicyBazaar IPO Listing Date

Listing Date Monday, November 15, 2021
BSE Script Code 543390
NSE Symbol POLICYBZR
Listing In B Group of Securities
ISIN INE417T01026
IPO Price ₹980 per equity share
Face Value ₹2 per equity share

Listing Day Trading Information

.
IPO 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

Company Contact Information

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/

PolicyBazaar IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: policybazaar.ipo@linkintime.co.in
Website: https://linkintime.co.in/

PolicyBazaar IPO FAQs

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 equity share. The minimum order quantity is 15 Shares.

The IPO opens on Nov 1, 2021, and closes on Nov 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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'PolicyBazaar IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The PolicyBazaar IPO opens on Nov 1, 2021 and closes on Nov 3, 2021.

PolicyBazaar IPO lot size is 15 Shares and the minimum order quantity is 15 Shares.

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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for PolicyBazaar IPO will be done on Nov 10, 2021, and the allotted shares will be credited to your demat account by Nov 12, 2021. Check the PolicyBazaar IPO allotment status.

The PolicyBazaar IPO listing date is on Monday, November 15, 2021.

PolicyBazaar IPO Message Board

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