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This Fintech Aggregator Firm Is In Pipeline To Launch An IPO Soon

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The company PB Fintech that runs Policybazaar as well as Paisabazaar portal has been given SEBI's nod for floating an IPO of Rs. 6017.50 crore. The initial public offer (IPO) comprises a fresh issue of Rs 3,750 crore worth of equity shares and an offer for sale of Rs 2,267.50 crore by existing shareholders, according to draft red herring prospectus (DRHP).

 
This Fintech Aggregator Firm Is In Pipeline To Launch An IPO Soon

As part of the OFS, the promoters including SVF Python II (Cayman) and Yashish Dahiya will offload stake in the firm. As per the draft papers, the firm may consider raising around Rs 750 crore by way of a private placement of equity shares ahead of the IPO.

The company plans to use IPO proceeds in marketing efforts as well raising awareness on the company's brands as well as look to tap new opportunities for expanding its consumer base and engaging even in offline presence.

Also, the proceeds from the IPO will be used for funding strategic investments and acquisitions, expanding presence outside India and general corporate purpose.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Citigroup Global Markets India, ICICI Securities, HDFC Bank Ltd, IIFL Securities and Jefferies India are the book running lead managers to the issue.

GoodReturns.in

Read more about: ipo policybazaar
Story first published: Wednesday, October 20, 2021, 10:21 [IST]
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