Preparing to raise Rs 6500 crore from IPO, PB Fintech is the parent company of Policybazaar– News18 Hindi

PB Fintech IPO: The IPO market is having good days at the moment. IPOs are being launched in a hurry and they are also getting good response from the investors. In this episode, PB Fintech, the parent company of the online insurance marketplace Policybazar, is preparing to raise Rs 6500 crore from IPO. According to CNBC-TV18, the company had taken the approval of the board to bring the IPO in the Extraordinary General Meeting (EGM) on July 5.

It has also been told in the information given to the regulator that PB Fintech is turning into a public limited company. Earlier, Moneycontrol had reported that PolicyBazaar may file the Draft Red Herring Prospectus (DRHP) in July. The company plans to bring an IPO in November-December this year. The valuation of the company for the issue could be $ 4-5 billion, which is higher than the valuation already fixed.

Policybazaar loses Rs 218 crore in 2020

Policybazaar had a loss of Rs 218 crore in the fiscal year 2020. The company’s income during this period was Rs 515 crore. A year before this, in the fiscal year 2019, the company had a loss of Rs 213 crore and earned Rs 310 crore. A person tracking the company said that PolicyBazaar’s earnings have now doubled and losses have come down to half.

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Policy market was started in the year 2008

Policy Bazaar was started by Yashish Dahiya in 2008. He comes from an army family background and he also wanted to join the army. This was the reason why he refused to take funding from Chinese investors during the Doklam conflict. In view of the growing political tension between India and China, he also wanted to buy the stake of Chinese investor Tencent in the company.

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Policy Bazaar has rapidly carved a niche in the segment in its business. Along with this, it is also continuously expanding its business. In this sense, experts consider it good for investment.

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