PolicyBazaar IPO Allotment Status-Share Allotment Expected Today

PolicyBazaar IPO Allotment Status

Investors are waiting for the parent company of Policybazaar, PB Fintech, to complete its share allotment, which is expected to be completed later on November 10.

During November 1-3, 2021, India’s largest online platform for insurance and lending goods raised Rs 5,625 crore with a public issue that was subscribed 16.58 times.

The price band for the IPO, which lasted from November 1-3, was set by PolicyBazaar at Rs 940-980. Investors who applied for the PolicyBazaar IPO can monitor the progress of their share allotment online, either through the registrar Link Intime’s website or the BSE’s portal.

If the details are entered correctly, the status will show. The blocked money will be refunded to your bank account if there is no allocation.

Check the Allotment Status

1. Visit the website
2. Choose the company name PB Fintech Limited- IPO from the drop-down menu.
3. Fill in the Permanent Account Number (PAN), the application number, the DP/client ID, or the account number/IFSC code.
4. To find out the status of your allotment, click the’submit’ button.

Status of Issue Application

1. Visit the Website
2. Select “Equity” and PB Fintech Limited as the issue name.
3. Input the application number as well as the PAN.
4. Finally, choose the (I’m not a robot) checkbox and click the search button.

Unsuccessful investors will receive a refund in their bank accounts by November 11th, and eligible investors’ shares will be transferred to their demat accounts by November 12th.

On November 15, the shares will be listed on the BSE and NSE for the first time.

According to IPO Watch and IPO Central, the share was trading in the grey market for Rs 1,060-1,070, a premium of Rs 80-90, or 8-9 percent, above the estimated final issue price of Rs 980 per share.

THE GREY MARKET IS AN UNOFFICIAL TRADING PLATFORM WHERE SHARES ARE EXCHANGED BEFORE THEY ARE ALLOTTED IN AN INITIAL PUBLIC OFFERING (IPO) AND LISTED ON STOCK EXCHANGES.

The initial public offering was favorably received. The amount reserved for qualified institutional purchasers was subscribed 24.89 times, the piece reserved for retail investors was booked 3.31 times, and the portion reserved for non-institutional investors was subscribed 7.82 times.

The IPO included a Rs 3,750 crore new issue and a Rs 1,960 crore offer for sale by shareholders, including SVF Python II (Cayman).

According to the company, the proceeds from the fresh issue will be used to increase visibility and awareness of the company’s brands (Policybazaar and Paisabazaar) (Rs 1,500 crore), expand the company’s consumer base (including offline presence) (Rs 375 crore), make strategic investments and acquisitions (Rs 600 crore), and expand its presence outside India (Rs 375 crore).

Policybazaar was India’s largest digital insurance marketplace in FY20, with a market share of 93.4 percent based on the number of policies sold. According to the company, Paisabazaar was India’s largest digital consumer credit marketplace in FY21, with a 53.7 percent market share based on disbursal.

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