PB Fintech Limited IPO (PolicyBazaar IPO) Details
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.
- 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.
|Particulars||For the year/period ended (₹ in Millions)|
|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).