Prior to its IPO, PB Fintech, the holding company for PolicyBazaar and PaisaBazaar, received Rs 2569.73 crore from 155 anchor investors.
The company claimed in a filing with the stock exchanges that the participants included both domestic and overseas investors, with shares distributed at a price of Rs 980 per share.
PB Fintech’s initial public offering (IPO) will take place between November 1 and 3, with shares priced between Rs 940 and Rs 980 a share.
The revenues from the IPO will be used by PB Fintech to increase the exposure and awareness of its two brands, Policybazaar and Paisabazaar. It will also consider new ways to expand its customer base, such as establishing an offline presence, making strategic investments and acquisitions, and expanding its reach beyond India.
PB Fintech is the world’s top online platform for insurance and financing products, combining technology, data, and innovation. It attempts to raise awareness among Indian households about the financial consequences of death, disease, and damage by providing easy access to insurance, credit, and other financial goods.