Industry

Policybazaar files papers for ₹6,017.5 -cr. IPO

PB Fintech, that operates online insurance platform Policybazaar and credit- comparison portal Paisabazaar, has filed preliminary papers with market regulator SEBI to raise ₹6,017.50 crore through an initial public offering (IPO).

The IPO comprises a fresh issue of ₹3,750 crore worth of equity shares and an offer for sale (OFS) of ₹2,267.50 crore by existing shareholders, according to the draft red herring prospectus (DRHP).

The firm may consider raising about ₹750 crore by way of private placement.

Proceeds of the fresh issue will be used towards enhancing visibility and awareness of the company's brands.


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Printable version | Sep 19, 2021 7:21:02 PM | https://www.thehindu.com/business/Industry/policybazaar-files-papers-for-60175-cr-ipo/article35691066.ece

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