On November 1st the Policybazaar IPO opened with the target to mop up INR 5,700 crore, of which INR 2,569 crore was already being raised through anchor book on October 29.
The PB Fintech IPO which owns Policybazaar and Paisabazaar, has witnessed a good demand from investors after receiving bids for 34.69 crore equity shares against offer size of 3.45 crore equity shares, that resulted into oversubscription of 10 times on the last day of bidding i.e. November 03.
The qualified institutional investors, having 75 percent reserved offer, applied their bids 15 times the portion set aside for them. Non-institutional investors also bought 4.22 times shares of their total reserved section.
Retail investors’ responded strongly to the offer and subscribed 2.85 times.