5:52 pm - Sunday November 28, 2021

Listing shares of parent company Policybazaar: listing PB Fintech shares with a fee of 17.35% Premium

132 Viewed Pallavi Kumar Comments Off on Listing shares of parent company Policybazaar: listing PB Fintech shares with a fee of 17.35% Premium
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Policy operator PB Fintech, initial public offering (IPO) was listed on the stock exchange on Monday. At the opening, the PB Fintech IPO was listed at a price of Rs 1,150 on the Bombay Stock Exchange. This is an increase of around 17.35% from the Rs 980 issue price at the top of the table. Paisabazaar’s parent company was listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on 15 November at 10 am. It received favorable reception from buyers. The fact that PB Fintech or IPO Policybazaar is properly listed has surprised many experts and analysts. As of 10:05 a.m., shares of PB Fintech are listed at Rs 1,199/share on BSE, following a positive response from investors. On the NSE, shares traded at Rs 1,196.1 per share.

IPO was oversubscribed 16.6 times on the day it closed i.e. 3 Nov. . Eligible institutional buyers are registered 24.89 times, retail investors are registered 3.31 times and non-institutional investors are registered 7.82 time.
Parent company Policybaazar wants to raise Rs 5,700 crore through its IPO, which includes a new issuance of Rs 3,750 crore and an offer of Rs 1,960 crore by shareholders selling their shares. He sets the issue price at Rs 940 980 per share with a nominal value of Rs 2 per share.

PB Fintech will use the proceeds from the show to increase visibility and awareness of the company’s brands – Policybazaar and Paisabazaar. Around Rs 1,500 crore will go towards brand visibility. At least Rs 375 crore will be used for new opportunities to expand consumer base including offline presence. The company wishes to use Rs 600 crore for strategic investments and acquisitions, while a total of Rs 375 crore will be used to expand its presence outside of India, in addition to the company’s overall goals. . The proceeds from the offering will be passed on to the selling shareholders, including the SVF Python II.

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