Shares of Policybazaar - the country's leading online insurance aggregator will be listed on November 15, after its initial public offer (IPO) concluded on November 3. The IPO of the consumer-centric insurance portal was subscribed 16.59 times by the end of its bidding process. Policybazaar's Rs 5,625 crore IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders.
Policybazaar plans to utilise a part of its the fresh issue proceeds, after deducting the offer related expenses, for enhancing its visibility and awareness of brands (including but not limited to Policybazaar and Paisabazaar). It will utilise Rs 375 crore in new opportunities to expand its consumer base including offline presence
Operated by PB Fintech, the portal offers technology solutions focused on automation. It provides choice and transparency for research, to support customers in selecting insurance and personal credit products.
Here's how you can check the status of allotment on the website of BSE or the registrar's website — Link Intime India. (Also Read: Policybazaar IPO Subscribed 16.59 Times On Final Day Of Issue )
Steps to check the status of allotment through the BSE website:
- Log in to https://www.bseindia.com/investors/appli_check.aspx
- Select Policybazaar IPO from the list
- Enter your application number
- Provide your PAN number
- Verify that you are not a robot and click ‘submit'
Steps to check the status of allotment through the registrar's website (Link Intime India):
- Log in to https://www.linkintime.co.in/IPO/public-issues.html
- Choose 'Policybazaar IPO' from the drop-down list
- Select one of the 3 modes — application number, client ID or PAN ID
- Then, submit details of the mode you chose earlier
- Fill Captcha and click ‘submit'