PB FINTECH LIMITED IPO – Nov 1 to 3

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PB FINTECH LIMITED IPO – Nov 1 to 3

October 29, 2021
PB FINTECH LIMITED IPO – Nov 1 to 3

PB FINTECH LIMITED. is coming out with a fresh public issue to raise Rs 5709.71 crores from the market.

Key details of the issue:

  • Issue opens – Nov 1 (Monday)
  • Issue closes – Nov 3 (Wednesday)
  • Issue size – Rs 5709.71 crores
  • Price band – Rs 940 to 980 per equity share
  • Bid lot – 15 shares and in multiples thereof

And here are some details of the company and further details on the PB FINTECH LIMITED issue.

Company details:

·        PB Fintech Limited have built India’s largest online platform for insurance and lending products leveraging the power of technology, data and innovation, according to Frost & Sullivan. They provide convenient access to insurance, credit and other financial products and aim to create awareness amongst Indian households about the financial impact of death, disease and damage.

·        They also facilitate their Insurer and Lending Partners in the financial services industry to innovate and design customised products for Consumers leveraging their extensive data insights and data analytics capabilities.

·        They launched Policybazaar, their flagship platform, in 2008 to respond to Consumers’ need for more awareness, choice and transparency and create a consumer-pull based, provider-neutral model for insurance distribution.

·        In Fiscal 2020, Policybazaar was India’s largest digital insurance marketplace among all online insurance distributors with 93.4% market share based on number of policies sold. For this purpose, number of policies sold by all online insurance distribution platforms as per IRDAI have been used to derive the market share. Furthermore, in Fiscal 2020, Policybazaar constituted 65.3% of all digital insurance sales in India by number of policies sold (including online sales done directly by insurance companies and by insurance distributors). For this purpose, number of policies sold online directly by insurance companies and by insurance distributors have been estimated to derive the market share.

·        In 2014, they launched Paisabazaar with the goal to transform how Indians access personal credit by accentuating ease, convenience and transparency in selecting a variety of personal loans and credit cards. According to Frost & Sullivan, Paisabazaar was India’s largest digital consumer credit marketplace with a 53.7% market share, based on disbursals in Fiscal 2021. Paisabazaar is also widely used to access credit scores, with approximately 22.5 million Consumers cumulatively having accessed their credit score through their platform as of June 30, 2021.

·        They primarily generate revenues from the following sources: (i) for Policybazaar business, from insurance commission that they receive from their Insurer Partners, and additional services that they provide to Insurer Partners such as telemarketing and other services relating to sales and post-sales services, account management, premium collection and various other services, (ii) for Paisabazaar business, from the commission that they receive from their Lending Partners, credit advisory and related services that they provide to their Consumers or Lending Partners, and marketing services that they provide to financial services partners and other third parties, and (iii) for their Company, from providing online marketing, consulting and technology services to Insurer and Lending Partners.

Issue size: Rs 5709.71 crores

Issue break-up:

  • QIB – 75% of the offer – Rs 4282.29 crores
  • NIB – 15% of the offer – Rs 856.46 crores
  • RET – 10% of the offer – Rs 570.97 crores

Listing: NSE and BSE

Registrar: Link Intime India Private Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

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