Policybazaar jumps on the digital IPO bandwagon

No image

Last Updated: 12th December 2022 - 01:34 am

Listen icon

Policybazaar was touted as one of the big digital IPOs of 2022 along with other names like Zomato, Paytm, Nykaa and MobiKwik. The emphatic success of the Zomato IPO has forced the other digital candidates to fast-track their IPO plans. With Paytm and MobiKwik already filing for the IPO, Policybazaar could not be too far behind. On 21 July, Policybazaar announced a tentative plan for its proposed Rs.6,500 IPO.

The holding company that owns the Policybazaar franchise is PB Fintech. The holding company was undergoing the process of converting itself from a private limited company to public limited company. With the process completed, Policybazaar has gone ahead and filed for its Rs.6,500 crore IPO. Of course, filing the draft red herring prospectus (DRHP) with SEBI is the first step and after the SEBI approval, the IPO has to file the RHP with ROC. But, the Process of the IPO has surely been fast-tracked.

Policybazaar commenced operations in 2008 as a digital answer to the problem of selecting the right insurance policy. The Policybazaar platform facilitates research into various insurance policies, comparison on features, screening of comparative policies, zeroing in on the right policy and also doing the fulfilment of the policy through appropriate sales channels. For that, Policybazaar uses a combination of content, community and commerce to better inform customers and advise them on the right choice.

For FY20, Policybazaar reported net loss of Rs.218 crore on revenues of Rs.515 crore. The CEO in an interview had hinted at revenues crossing Rs.1,000 crore in FY21. Policybazaar has marquee investors like Softbank, Temasek, True North, Tiger Global, Bay Capital and Premji Finvest. Policybazaar is expected to be valued on listing at $4-5 billion.

FREE Trading & Demat Account
Open FREE Demat Account with endless opportunities.
  • Flat ₹20 Brokerage
  • Next-gen Trading
  • Advance Charting
  • Actionable Ideas
+91
''
By proceeding, you agree to our T&Cs*
Mobile No. belongs to
hero_form

Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.

Open Free Demat Account

Be a part of 5paisa community - The first listed discount broker of India.

+91

By proceeding, you agree to all T&C*

footer_form