Mumbai: PB Fintech, Parent Company for Distributor of Online Distributor Policies and Paisabazaar Loan Loan Portal, has repaired the ribbon price of Rs 940 to RS 980 for the initial public offering RS 5.710-Crore (IPO), which will be opened on November 1.
The price of giving a rating company between Rs 44,250 Crore and Rs 46,125 Crore ($ 5.9-6.2 billion).
It appreciates the company in more than Rs 25,923-Crore Crore Cap Market New India Assurance – the largest non-life insurance company in the country.
The IPO consists of a new edition of RS 3.750-Crore equity stock and offers for sale around RS 1,960 Crore by existing shareholders.
As part of Ofs, Softbank (SVF Python II – Cayman) will sell shares worth 1,875 crore.
Softbank will sell up to a quarter of almost 16% of the shares accommodated in the company.
The founders will also sell shares around Rs 58 Crore at IPO.
The results of the IPO will be used to fund strategic investments and acquisitions, expanding the presence outside India and the purposes of public companies.
Policybazaar, which began as a comparison site that produces direction for insurance companies, has evolved into a platform that allows users to search, buy, update and claim the cottage.
After receiving an insurance broking license, the company has expanded offline attendance for distribution.
“We got 12.6 annual crore visits, which was significant considering that we were not entertainment websites,” said the founder of Polikebazaar Yashish Dahiya.
According to him, the protection gap in India (the gap between the required amount insured and total insurance money) was 83% compared to 70% in China and 48% in the US, and 63% payment for health care made of bags.
“The total insured amount of our policy at FY21 is Rs 7 Lakh Crore and Premium is Rs 4,701 Crore from 48 insurance partners,” Dahiya said.
In terms of income, it is greater than some insurance companies.
In addition to vertical insurance, the company distributes loans through Paisabazaar in partnership with 56 banks and Fintech companies.
Dahiya said that while Polisbaar will work with the focus insurance company will be on consumers and will continue to enforce its ethos, which will bring transparency to the market.
“From our global investors, besides Intel Cap, no one came out of them.
All investors remain invested,” Dahiya said.
He added that given the potential of growth in India, the company would not be a mature business even after five years.