PolicyBazaar IPO announced: Check subscription date, price band and more
PolicyBazaar IPO (initial public offering) will comprise a fresh issue of Rs 3,750 crore worth of equity shares.
New Delhi: PolicyBazaar and PaisaBazaar’s parent firm PB Fintech has revealed subscription date and price bank details of its upcoming initial public offering (IPO) that will help the company raise about Rs 5,710 crore. The PolicyBazaar IPO will comprise a fresh issue of Rs 3,750 crore worth of equity shares.
PolicyBazaar IPO Important Dates
Who can bid for PolicyBazaar IPO?
PolicyBazaar has reserved 75 per cent of the entire for qualified institutional buyers, 15 per cent of the issue for non-institutional investors and the remaining 10 per cent for retail investors. Investors will be able to bid for a minimum of 15 equity shares and in multiples of 15 equity shares thereafter.
What are PolicyBazaar’s plans with IPO proceeds?
PolicyBazaar IPO Offer For Sale (OFS)
The IPO will also witness an offer for sale of about Rs 1,960 crore by existing shareholders SVF Python II (Cayman), Yashish Dahiya, Shikha Dahiya and Rajendra Singh Kuhar. Here’s a breakup:
SVF Python II (Cayman) will sell stakes worth Rs 1,875 crore
Yashish Dahiya will sell shares worth Rs 30 crore
Alok Bansal will offload shares worth Rs 12.75 crore
Shikha Dahiya will divest shares worth Rs 12.25 crore
Rajendra Singh Kuhar will sell shares worth Rs 3.5 crore.
Founder United Trust will sell around 2,67,500 shares worth Rs 26.21 crore on upper band price.