Policybazaar parent PB Fintech IPO to open Nov. 1

PB Fintech Ltd., with brands such as Policybazaar and Paisabazaar, has announced plans to open its IPO on November 01 at a price band of ₹940 and ₹980 per equity share of face value of ₹2 each. Bids can be made for a minimum of 15 shares and in multiples of 15 thereafter.

The offer consists of a fresh issue of aggregating up to ₹3,750 crore and an offer for sale of up to ₹1,875 crore by SVF Python II (Cayman) Ltd and certain other persons.

The net proceeds from the fresh issue are proposed to be utilised for brand building, in new opportunities to expand consumer base including offline presence; investments and acquisitions; expanding presence outside India; and for general corporate purposes.

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