Policybazaar IPO Launch Date Announced, Price Band Set At Rs 940-980

New Delhi: PB Fintech, the parent company of Policybazaar has released the dates of its upcoming Initial Public Offering (IPO). The issue will open on November 1 and will close on November 3.

The Policybazaar's IPO will be listed on November 15.

The company's issue price band has been fixed at Rs 940-980. The issue size is 6,07,30,265 shares, with a face value of Rs 2 each.

Policybazaar is preparing to raise Rs 5709.72 crore from this IPO. It has a fresh issue of Rs 3750 crore, whereas the shares of 1959.72 crores will be sold in Offer for Sale (OFS).

In the offer for sale, SVF Python II (Cayman) will sell shares worth Rs 1875 crore. On the other hand, Yashish Dahiya will sell shares worth Rs 30 crore. Alok Bansal will sell shares worth Rs 12.75 crore and Shikha Dahiya for Rs 12.50 crore.

Apart from these, Rajendra Singh Kuhar will sell shares worth Rs 3.50 crore. With this, the company's founder United Trust will sell 2.68 lakh shares. According to the upper price band of the issue, its value will be Rs 26.22 crore.

As per the DRHP, SVF Python II (Cayman) holds 9.45 percent stake in the company. Whereas Yashish Dahiya holds 4.27 percent stake in the company. On the other hand, Alok Bansal holds 1.45 percent stake.

The company has set a valuation target between $5.5 billion to 6 billion. Investors like SoftBank, Temasek, InfoEdge, Tiger Global and Premji Invest have invested in the company.

HDFC Bank Ltd, Morgan Stanley, Citigroup Global Markets India, Kotak Mahindra Capital, IIFL Securities, ICICI Securities and Jefferies India are the book running lead managers of the IPO.

Policybazaar provides services like Auto, Health, Life Insurance and General Insurance policies. The company sells 4 lakh policies every month.

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