The year 2016 and 2017 have been seen a slew of IPOs hit the primary market and another online aggregator firm providing comparison of insurance policies from different insurers is targeting a IPO of over $1.5 billion.
The leading news daily reported the development and with huge profits to the tune of Rs. 35 crore and an estimated turnover of close to Rs. 2,000 crore by the end of FY 2018, the online insurance aggregator company shall be successful to hit the IPO. This year alone the company recorded a magnificent premium of Rs 1800 crore.
Earlier this year Policybazaar.Com CEO and co-founder Yashish Dahiya told PTI, "With the financials auguring well, we plan to go more aggressive in marketing and technology in this financial year. We are now targeting Rs 2,000 crore insurance premium (turnover) in this financial year. The company intends to get IPO ready by October 2017."
The company started its operations in this business 8 years back and is reported to control over 90% business of online policy comparison in the Indian market.