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.

Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Sep 27, 2021 9:11:19 AM |

Next Story