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PB Fintech is a leading digital marketplace for insurance and lending products in India. The company provides accessible access to insurance, credit, and other fiscal products and aims to produce mindfulness in India about the fiscal impact of death, disease, and damage. The company’s technology solutions are concentrated on robotization and self- service-driven consumer experiences requiring minimum human intervention.
PB Fintech launched digital platform Policybazaar in 2008 aimed at service to consumers who need further information, choice, and translucency in insurance programs. Policybazaar is an online platform for consumers and insurers partners to buy and sell insurance products. As of March 2021, more than 51 insurer partnered with PB fintech and offered more than 340 term insurance, health, motor, home, and travel insurance products on the policy bazaar platform,
Policybazaar offers its users with i)pre-purchase research, ii) purchase, including application, examination, medical check-up, and payment; and iii)post-purchase policy operation, including claims facilitation, renewals, cancellations, and refunds.
According to Frost & Sullivan, Policybazaar was India’s largest digital insurance marketplace with a 93.4 market share based on the number of policies sold in Financial 2020. Also, in the same year 65.3% of all digital insurance sales in India by volume were transacted through Policybazaar.
PB Fintech also launched digital lending platform called Paisabazaar in 2014, The company has partnered with 54 large banks, NBFCs, and fintech lenders offering a wide choice of products to customers across personal credit avenues, including personal loans, business loans, credit cards, home loans, and loans against property.
According to Frost & Sullivan, Paisabazaar was India’s largest online credit marketplace with a 51.4% market share, based on disbursals in the Financial year 2020. During Fiscals 2019, 2020, and 2021, Paisabazaar enabled disbursals of ₹5,101.5 Cr, ₹6,549.6 Cr, and ₹2,916.8 Cr respectively.
Company Strengths
- Provides a wide choice and transparency to customers to research and select insurance and personal credit products.
- Collaborative partnership with various Banks and NBFCs for insurance and lending products.
- Strong network effects for Policybazaar and Paisabazaar platforms.
- High renewal rates shows company’s future growth.
- Capital efficient model with low operating costs.
- Experienced Founders and management.
Company Promoters:
Company is a professionally managed company and does not have an identifiable promoter.
Financial Summary
Particulars | For the year/period ended (₹ in Million) | ||||
| 30-Jun-21 | 30-Jun-20 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
Total Assets | 22,789.05 | 18,555.10 | 23,307.26 | 15,759.99 | 7,514.48 |
Total Revenue | 2,581.74 | 1,912.73 | 9,574.13 | 8,555.63 | 5,288.07 |
Profit After Tax | (1,108.44) | (597.53) | (1,502.42) | (3,040.29) | (3,468.11) |
Purpose of the IPO
- Enhancing visibility and awareness of company’s brands, including but not limited to “Policybazaar” and “Paisabazaar” – Rs.1500 Crore
- New opportunities to expand company’s consumer base including offline presence – Rs.375 Crore
- Funding strategic investments and acquisitions – Rs.600 Crore
- Expanding presence outside India – Rs.375 Crore
- General corporate purposes
PolicyBazaar IPO Details
IPO Opening Date | Nov 1, 2021 |
IPO Closing Date | Nov 3, 2021 |
Issue Type | Book Built Issue IPO |
Face Value | ₹2 per equity share |
IPO Price | ₹940 to ₹980 per equity share |
Market Lot | 15 Shares |
Min Order Quantity | 15 Shares |
Listing At | BSE, NSE |
PolicyBazaar IPO Lot Size
The PolicyBazaar IPO market lot size is 15 shares. A retail-individual investor can apply for up to 13 lots (195 shares or ₹191,100).
Application | Lots | Shares | Amount (Cut-off) |
Minimum | 1 | 15 | ₹14,700 |
Maximum | 13 | 195 | ₹191,100 |