Policy bazaar IPO Price band and IPO equity shares offerings

Policybazaar IPO: The Rs 5,710 crore initial public offering (IPO) of PB

Fintech, which operates online insurance platform Policybazaar and credit
comparison portal Paisabazaar. It has a price band of Rs 940-980 per share.
Policy bazaar IPO received bids for 57,23,84,100 shares against 3,45,12,186
shares on offer, according to NSE data. The ₹5,710-crore IPO had a fresh issue
of ₹3,750 crore worth of equity shares and an offer for sale of about ₹1,960
crore by existing shareholders. PB Fintech had garnered a little over ₹2,569
crore from anchor investors ahead of its IPO. Minimum application is to be
made for 15 shares and in multiples thereon, thereafter. Post allotment, shares
will be listed on BSE and NSE. The issue constitutes 12.96% of the post issue
paid-up capital of the company. 

Having issued initial equity at par, PBFL has raised further equity in the price
range of Rs. 3347.28 to Rs. 91269.00 between September 2008 and June 2021,
(based on FV of Rs. 2 per share). It has also issued bonus shares in the ratio of
499 for 1in June 2021. The average cost of acquisition of shares by the
promoters/selling stakeholders is Rs. 20.08, Rs. 88.16, Rs. 91.35, Rs. 130.08, Rs.
159.31 and Rs. 289.95 per share.

Post issue PBFL's current paid-up equity capital of Rs. 82.25 cr. will stand
enhanced to Rs. 89.90 cr. Based on the upper price band of the IPO, the
company is looking for a market cap of Rs. 44051 cr. 

Proceeds generated from the fresh issue will be used towards enhancing
visibility and awareness of the company's brands, to look for new
opportunities to expand growth initiatives to increase the consumer base
including offline presence.
Also, the proceeds from the IPO will be used for funding strategic investments
and acquisitions, expanding presence outside India and general corporate
purpose.  
Policy bazaar IPO issue 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)