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Policy Bazaar (PB Fintech Limited) IPO Detail

Policy Bazaar (PB Fintech Limited) IPO Detail

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:

  • Providing a wide choice and transparency to customers to research and select insurance and personal credit products.
  • Proprietary Technology helps in superior data intelligence and customer service.
  • Collaborative partnership with various companies for insurance and lending products.
  • Strong network effects for Policybazaar and Paisabazaar platforms.
  • High renewal rates.
  • Capital efficient model with low operating costs.
  • Experienced Founders and management.

Company Promoters

IPO Details

IPO Opening DateNov 01, 2021
IPO Closing DateNov 03, 2021
Issue TypeBook Built Issue IPO
Face Value₹2 per equity share
IPO Price ₹940 - 980 per equity share
Market Lot15 Shares
Min Order Quantity15 Shares
Listing AtBSE, NSE
Issue Size₹6,017.50 Cr
Fresh Issue₹3,750.00 Cr
Offer for Sale₹2,267.50 Cr
Retail Portion 10%

IPO Subscription (Bidding Detail)

Day 1 0.19x 0.04x 1.01x - 0.3x
Day 2 2.8x 0.23x 2.04x - 1.59x
Day 3 24.88x 7.69x 3.11x - 16.52x

IPO Tentative Timetable

The Policy Bazaar (PB Fintech Limited) IPO open date is Nov 01, 2021, and the close date is Nov 03, 2021. The issue may list on Nov 15, 2021.

IPO Open DateNov 01, 2021
IPO Close DateNov 03, 2021
Basis of Allotment DateNov 10, 2021
Initiation of RefundsNov 11, 2021
Credit of Shares to Demat AccountNov 12, 2021
IPO Listing DateNov 15, 2021

IPO Lot Size

The Policy Bazaar (PB Fintech Limited) IPO market lot size is 15 shares. A retail-individual investor can apply for up to 13 lots (195 shares or ₹191100).

ApplicationLotsSharesAmount (Cut-off)

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 2,330.73 957.41 -150.25
31-Mar-20 1,576 855.56 -304.02
31-Mar-19 751.45 528.80 -346.81

Objects of the Issue:

  • Enhancing visibility and awareness of company’s brands, including but not limited to “Policybazaar” and “Paisabazaar”;
  • New opportunities to expand company’s consumer base including offline presence;
  • Strategic investments and acquisitions;
  • Expanding presence outside India; and
  • General corporate purposes.