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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