Bookbuilding IPO | ₹5,710 Cr | Listed at BSE, NSE | Mon, Nov 1, 2021 - Wed, Nov 3, 2021
PB Fintech IPO is a book build issue of ₹5,709.71 crores. The issue is a combination of fresh issue of 3.83 crore shares aggregating to ₹3,750.00 crores and offer for sale of 2.00 crore shares aggregating to ₹1,959.71 crores.
PB Fintech IPO bidding started from Nov 1, 2021 and ended on Nov 3, 2021. The allotment for PB Fintech IPO was finalized on Nov 10, 2021. The shares got listed on BSE, NSE on Nov 15, 2021.
PB Fintech IPO price band is set at ₹980 per share. The lot size for an application is 15. The minimum amount of investment required by an retail is ₹14,700 (15 shares) (based on upper price). The lot size investment for sNII is 14 lots (210 shares), amounting to ₹2,05,800, and for bNII, it is 69 lots (1,035 shares), amounting to ₹10,14,300.
Citigroup Global Markets India Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to PB Fintech IPO RHP for detailed Information.
IPO Open
Mon, Nov 1, 2021
IPO Close
Wed, Nov 3, 2021
Issue Price
₹980 per share
Market Cap (Pre-IPO)
₹44,050.98 Cr
| IPO Date | 1 to 3 Nov, 2021 |
| Listed on | Mon, Nov 15, 2021 |
| Face Value | ₹2 per share |
| Price Band | ₹940 to ₹980 |
| Issue Price | ₹980 per share |
| Lot Size | 15 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 5,82,62,397 shares (agg. up to ₹5,710 Cr) |
| Fresh Issue | 3,82,65,306 shares (agg. up to ₹3,750 Cr) |
| Offer for Sale | 1,99,97,091 shares of ₹2 (agg. up to ₹1,960 Cr) |
| Share Holding Pre Issue | 41,12,34,500 shares |
| Share Holding Post Issue | 44,94,99,806 shares |
| BSE Script Code / NSE Symbol | 543390 / POLICYBZR |
| ISIN | INE417T01026 |
PB Fintech IPO comprises a total issue size of 5,82,62,397 shares. Out of which, 4,36,96,799 (75.00%) are allocated to QIB, 87,39,359 (15.00%) allocated to NII 58,26,239 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 4,36,96,799 | 75.00% | NA |
| − Anchor Investor Shares Offered | 2,62,18,079 | 45.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,74,78,720 | 30.00% | NA |
| NII (HNI) Shares Offered | 87,39,359 | 15.00% | NA |
| Retail Shares Offered | 58,26,239 | 10.00% | 3,88,415 |
| Total Shares Offered | 5,82,62,397 | 100.00% |
Investors can bid for a minimum of 15 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 15 | ₹14,700 |
| Retail (Max) | 13 | 195 | ₹1,91,100 |
| S-HNI (Min) | 14 | 210 | ₹2,05,800 |
| S-HNI (Max) | 68 | 1,020 | ₹9,99,600 |
| B-HNI (Min) | 69 | 1,035 | ₹10,14,300 |
PB Fintech IPO raises ₹2,569.37 crore from anchor investors. PB Fintech IPO Anchor bid date is October 29, 2021.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Oct 29, 2021 |
| Shares Offered | 2,62,18,079 |
| Anchor Portion (₹ Cr.) | 2,569.37 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Dec 10, 2021 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Feb 8, 2022 |
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.
Competitive Strengths:
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Enhancing visibility and awareness of our brands, including but not limited to “Policybazaar” and “Paisabazaar” | 1,500.00 |
| 2 | New opportunities to expand growth initiatives to increase our Consumer base including offline presence | 375.00 |
| 3 | Funding Strategic investments and acquisitions | 600.00 |
| 4 | Expanding our presence outside India | 375.00 |
| 5 | General corporate purposes | 763.09 |
The PolicyBazaar IPO is subscribed 16.59 times on November 3, 2021 5:00:00 PM (Day 3). The public issue subscribed 3.31 times in the retail category, 24.89 times in the QIB category, and 7.82 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 24.89 | 1,93,29,621 | 48,10,22,745 |
| NII | 7.82 | 91,09,539 | 7,12,43,700 |
| Retail | 3.31 | 60,73,026 | 2,01,17,655 |
| Total | 16.59 | 3,45,12,186 | 57,23,84,100 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers’ fees | 168.45 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 8.26 |
| 3 | Fees payable to the Registrar to the Offer | |
| 4 | Fees payable to the other advisors to the Offer | 5.36 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 11.55 |
| 6 | Printing and stationery | 3.10 |
| 7 | Advertising and marketing expenses | 2.74 |
| 8 | Fee payable to legal counsels | 7.53 |
| 9 | Miscellaneous | 1.59 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹980.00 | ₹980.00 |
| Open | ₹1,150.00 | ₹1,150.00 |
| Low | ₹1,145.00 | ₹1,149.00 |
| High | ₹1,249.00 | ₹1,248.90 |
| Last Trade | ₹1,202.90 | ₹1,202.30 |
Lead Manager Reports
PB Fintech IPO is a main-board IPO of 5,82,62,397 equity shares of the face value of ₹2 aggregating up to ₹5,710 Crores. The issue is priced at ₹980 per share. The minimum order quantity is 15.
The IPO opens on Mon, Nov 1, 2021, and closes on Wed, Nov 3, 2021.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in PB Fintech IPO using UPI as a payment gateway. Zerodha customers can apply in PB Fintech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in PB Fintech IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The PB Fintech IPO opens on Mon, Nov 1, 2021 and closes on Wed, Nov 3, 2021.
PB Fintech IPO lot size is 15, and the minimum amount required for application is ₹14,700.
You can apply in PB Fintech IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for PB Fintech IPO will be done on Wednesday, November 10, 2021, and the allotted shares will be credited to your demat account by Fri, Nov 12, 2021. Check the PB Fintech IPO allotment status.
The PB Fintech IPO listing date is on Mon, Nov 15, 2021.
