Policybazaar’s parent company PB Fintech’s shares will be listed on November 15
Policybazaar shares will be listed on the stock exchange on Monday (November 15). The stocks of PB Fintech (the parent company that operates PolicyBazaar) will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
PB Fintech raised Rs 5,625 crore earlier this month through its PolicyBazaar Initial Public Offer (IPO). The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 24.89 times, retail investors 3.31 times and non-institutional investors 7.82 times.
The IPO was subscribed 16.58 times between November 1 and November 3, when it was open for subscription.
This included a fresh issue of Rs 3,750 crore and an offer for sale of Rs 1,960 crore by shareholders including SVF Python II (Cayman).
The company plans to increase visibility and create greater awareness of its brands (PolicyBazar as well as Paisabazaar) through earnings.
It will expand consumer base including offline presence, make strategic investments and acquisitions and establish base in other countries as well.
Shares of microcrystalline cellulose maker Sigachi Industries will also be listed on NSE and BSE on November 15.
Earlier this month, its IPO was subscribed 101.91 times. It had received bids for 54,89,47,440 shares as against 53,86,500 shares that opened on November 1. The offer closed on November 3, 2021.
The share of non-institutional investors was subscribed 172.43 times, that of QIBs was 86.51 times and the share of retail investors was subscribed 80.49 times.
Sigachi Industries is engaged in the manufacturing of Microcrystalline Cellulose which is widely used in the pharmaceutical industry as an adjuvant for finished supplements and has various applications in the food, nutraceuticals and cosmetic industries.
Shares of SJS Enterprises will also enter the stock market on Monday. Its IPO was subscribed 1.59 times.
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