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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 ₹980.00 per share . The lot size for an application is 15. The minimum amount of investment required by an retail is ₹14,100 (15 shares). 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 Date | November 1, 2021 to November 3, 2021 |
| Listing Date | November 15, 2021 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹940 to ₹980 per share |
| Issue Price Final | ₹980 per share |
| Lot Size | 15 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 5,82,62,397 shares (aggregating up to ₹5,709.71 Cr) |
| Fresh Issue | 3,82,65,306 shares (aggregating up to ₹3,750.00 Cr) |
| Offer for Sale | 1,99,97,091 shares of ₹2 (aggregating up to ₹1,959.71 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 41,12,34,500 shares |
| Share Holding Post Issue | 44,94,99,806 shares |
PolicyBazaar IPO offers total 5,82,62,397 shares. Out of which 4,36,96,799 (75.00%) allocated to QIB, 1,74,78,720 (30.00%) allocated to QIB, 87,39,359 (15.00%) allocated to NII, 58,26,239 (10.00%) allocated to RII and 2,62,18,079 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum 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%) |
PB Fintech IPO opens on November 1, 2021, and closes on November 3, 2021.
| IPO Open Date | Mon, Nov 1, 2021 |
| IPO Close Date | Wed, Nov 3, 2021 |
| Tentative Allotment | Wed, Nov 10, 2021 |
| Initiation of Refunds | Thu, Nov 11, 2021 |
| Credit of Shares to Demat | Fri, Nov 12, 2021 |
| Tentative Listing Date | Mon, Nov 15, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Nov 3, 2021 |
Investors can bid for a minimum of 15 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 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:
| Particulars | For the year/period ended (₹ in Millions) | ||||
|---|---|---|---|---|---|
| 30-Jun-21 | 30-Jun-20 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 22,789.05 | 18,555.10 | 23,307.26 | 15,759.99 | 7,514.48 |
| Total Revenue | 2,581.74 | 1,912.73 | 9,574.13 | 8,555.63 | 5,288.07 |
| Profit After Tax | (1,108.44) | (597.53) | (1,502.42) | (3,040.29) | (3,468.11) |
The Company PB Fintech IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[Dilip Davda] Though the company is in operation for over a decade, it has not yet broken the ice to turn green. Based on all parameters, the issue is exorbitantly priced. No doubt recent madness for Unicorn and Tech IPOs following Zomato is still continuing and accepting fancy pricing of loss-making companies. Though the company has bright prospects going forward, its issue pricing discounts all near term positives. Hence, risk seeker/cash surplus investors may consider investment for the long term, others may avoid it. Read detail review...
| Listing Date | November 15, 2021 |
| BSE Script Code | 543390 |
| NSE Symbol | POLICYBZR |
| ISIN | INE417T01026 |
| Final Issue Price | ₹980 per share |
| BSE Listing Group | B |
PB Fintech Ltd.
Plot No. 119,
Sector 44 Gurgaon,
Haryana 122 001, India
Gurgaon, Haryana
Phone: +91 124 456 2907
Email: investor.relations@pbfintech.com
Website: https://www.pbfintech.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: policybazaar.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
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 ₹5,709.71 Crores. The issue is priced at ₹980 per share. The minimum order quantity is 15.
The IPO opens on November 1, 2021, and closes on November 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 November 1, 2021 and closes on November 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 Friday, November 12, 2021. Check the PB Fintech IPO allotment status.
The PB Fintech IPO listing date is on Monday, November 15, 2021.
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