Investors are waiting for the share allotment of Policybazaar’s parent company PB Fintech is expected to be finalised later on November 10.
India's largest online platform for insurance and lending products mobilised Rs 5,625 crore through the public issue that was subscribed 16.58 times during November 1-3, 2021.
The allotment can be checked either on the website of the BSE or IPO registrar.
While checking share allotment status with the IPO registrar, investors should follow these steps:
a) Select company name PB Fintech Limited- IPO
b) Enter either the Permanent Account Number (PAN) or the application number, or DP/client ID, or account number/IFSC
c) Click on the 'submit' button to know the allotment status.
Alternatively, the allotment can also be checked on the BSE website.
a) Select "Equity" and issue name PB Fintech Limited
b) Enter the application number and PAN
c) Finally check box (I'm not a robot) and click on the search button.
Unsuccessful investors will get refund in their bank accounts by November 11 and shares will be transferred to the demat accounts of eligible investors by November 12.
The shares will make their debut on the BSE and NSE on November 15.
The share was trading at Rs 1,060-1,070 in the grey market, a premium of Rs 80-90, or 8-9 percent, over the expected final issue price of Rs 980 a share, the IPO Watch and IPO Central said.
The grey market is an unofficial trading platform where shares get traded well before the allotment in the IPO and listing on bourses.
The IPO was well received. The portion set aside for qualified institutional buyers was subscribed 24.89 times, retail investors' portion was booked 3.31 times and that of non-institutional investors saw 7.82 times subscription.
The IPO comprised 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).
With the help of fresh issue proceeds, the company will enhance visibility and awareness of its brands (Policybazaar and Paisabazaar) (Rs 1,500 crore), expand consumer base including offline presence (Rs 375 crore), do strategic investments and acquisitions (Rs 600 crore), and expand presence outside India (Rs 375 crore), the company has said.
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In FY20, Policybazaar was India's largest digital insurance marketplace among, with 93.4 percent market share based on number of policies sold. Paisabazaar was India's largest digital consumer credit marketplace, with a 53.7 percent market share, based on disbursals in FY21, the company said.