Shares of Policybazaar are listed at around 17% premium to the issue price today. The online insurance platform began its market introduction at Rs 1,150 per share on the BSE, facing the IPO issue price of Rs 980. The price band of the IPO was set at Rs 940-Rs 980 per share. Total 5.80 Lakh shares of the firm changed hands amounting to a turnover of Rs 67.64 crore on BSE. The market cap of the firm stood at Rs 53,229 crore.
On NSE, Policybazaar made its appearance at Rs 1,150 per share, implying a premium of 17.34%. Total 1.6 crore shares of the firm changed hands amounting to a turnover of Rs 1,924 crore on NSE. Market cap of the company stood at Rs 52,225 crore.
The county’s biggest online platform for insurance and lending products collected Rs 5,625 crore by the public issue.
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The share sale was subscribed 16.58 times on the last day of the offer. The portion allotted for qualified institutional buyers was subscribed 24.89 times, retail investors’ subscribed to 3.31 times the shares held for them, and non-institutional investors observed 7.82 times subscription.
The IPO went live from November 1 to November 3. The firm-fixed a price band of Rs 940-Rs 980 per share. The IPO involved a new issue of Rs 3,750 crore worth of equity shares and an offer for sale of Rs 2,267.50 crore by current shareholders.
Distribution of shares was done on November 10. The lot size of the IPO was 15 shares for which one would have to spend Rs 14,700. A culmination of 13 lots or 195 shares could be purchased in the IPO for which Rs 1,91,100 would have to be paid.
PB Fintech Ltd, the parent firm of Policybazaar, received Sebi’s yes for the IPO on October 19. PB Fintech also holds Paisabazaar.
As part of the offer for sale (OFS), SVF Python II (Cayman) sold shares worth Rs 1,875 crore, and Yashish Dahiya offloaded shares worth Rs 250 crore amid other stockholders.
The corporation harvested a little over Rs 2,569 crore from anchor investors a day ahead of its IPO. 155 anchor investors, including leading insurance firms such as HDFC Life, ICICI Prudential, Bajaj Allianz Life, SBI General Insurance, and Max Life Insurance put in bids for the allocated slot.
