Policybazaar IPO GMP, Subscription, Strength. Last Chance to Subscribe one should buy or not??

Policybazaar IPO

Policybazaar IPO

Policybazaar was India’s largest digital insurance marketplace among all online insurance distributors , with 93.4 percent market share based on the number of policies sold in FY20. The huge popularity of the e-insurance platform had prompted the operator to float an IPO, believed analysts. The company is planning to raise Rs 5,700 crore through its IPO that comprises a fresh issue of Rs 3,750 crore and an offer for sale of Rs 1,960 crore. The offer for sale consists of sale of Rs 1,875 crore worth of shares by investor SVF Python II (Cayman) and Rs 85 crore worth of shares cumulatively by Yashish Dahiya, Alok Bansal, founder United Trust, Shikha Dahiya and Rajendra Singh Kuhar. The price band for the offer has been fixed at Rs 940-980 per equity share. PB Fintech has already garnered Rs 2,569 crore from anchor investors on October 29, ahead of IPO.
Policybazaar operator PB Fintech Ltd (PBFL) initial public offering (IPO) is the largest and most famous of the three IPOs that hit the primary market recently. Policybazaar IPO saw a subscription of 1.59 times on the second day of bidding. The maiden offer by PB Fintech Ltd received applications for 5,47,59,750 shares against 3,45,12,186 shares on offer, according to the data by the National Stock Exchange (NSE). The portion set aside for retail investors was booked 2.04 times. The qualified institutional buyers (QIBs) and the non-institutional investors (NIIs) had subscribed to the issue 2.08 times and 0.23 times respectively. The company has fixed a price band at Rs 940-980 per equity share. Investors can bid for a minimum of 15 equity shares and in multiples of 15 equity shares thereafter. The investors will have the last chance to invest in Policybazaar IPO on Wednesday, November 3.
Most of the analysts suggested a subscribe rating for Policybazaar IPO for the listing gains. Whereas,  some cross questioned over the high valuations.



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