Policybazaar IPO
Policybazaar IPO — date, price band, lot size & details 2021
Policybazaar listed on 15 Nov 2021 at ₹1,150, 17.3% above the ₹980 issue price.
PB Fintech runs Policybazaar and Paisabazaar, India's largest online platform for insurance and lending products. Its total income was Rs 957.41 crore in FY2021.
Stock price
Policybazaar is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 01 Nov 2021
- Close 03 Nov 2021
- Allotment 10 Nov 2021
- Refund/credit 11 Nov 2021
- Listing 15 Nov 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 1 to 3 Nov, 2021 |
|---|---|
| Price Band | ₹940 – ₹980 |
| Face Value | ₹2 |
| Lot Size | 15 Shares |
| Issue Size | ₹5709.71 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,700 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 15 shares at the ₹980 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 15 | ₹14,700 |
| Retail (max) | 13 | 195 | ₹1,91,100 |
| S-HNI (min) | 14 | 210 | ₹2,05,800 |
| S-HNI (max) | 68 | 1,020 | ₹9,99,600 |
| B-HNI (min) | 69 | 1,035 | ₹10,14,300 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 528.81 crore in FY2019 to Rs 957.41 crore in FY2021.
- 02The loss narrowed from Rs 346.81 crore in FY2019 to Rs 150.24 crore in FY2021.
- 03The company had no borrowing, and net worth was Rs 1,952.15 crore on 30 June 2021.
- 04Rs 3,750.00 crore of the issue was fresh capital for brand building, growth and acquisitions.
- 0551 insurer partners offered over 340 products on Policybazaar on 31 March 2021.
Risks · 5
- 01The company made losses in every period shown, including Rs 110.84 crore in the three months to 30 June 2021.
- 02The source shows a negative P/E, with pre-issue EPS of minus Rs 3.65.
- 03The post-issue market value at Rs 980 was Rs 44,050.98 crore while the company was loss making.
- 04A large part of the fresh money, Rs 1,500.00 crore, was set for advertising and brand visibility rather than assets.
- 05The company has no identifiable promoter, and Rs 1,959.71 crore of the issue was offer for sale.
Three years of numbers
All figures in ₹ crore, as reported in the Policybazaar offer document.
| Metric | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 2,278.91 | 2,330.73 | 1,576.00 | 751.45 |
| Total Income | 258.17 | 957.41 | 855.56 | 528.81 |
| Profit After Tax | -110.84 | -150.24 | -304.03 | -346.81 |
| EBITDA | -118.36 | -159.76 | -319.89 | -336.09 |
| NET Worth | 1,952.15 | 1,991.73 | 1,265.85 | 490.29 |
| Reserves and Surplus | 1,869.90 | 1,990.50 | 1,264.74 | 489.42 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Policybazaar RHP.
Where the money goes
₹3,613.09 Cr of the issue is earmarked to named objects.
About the company
Policybazaar was launched in 2008. On 31 March 2021, 51 insurer partners offered over 340 term, health, motor, home and travel insurance products on it. The platform covers research before purchase, the purchase itself, and policy management afterwards, such as claims help and renewals. Paisabazaar offers lending products.
The company has no identifiable promoter.
The IPO was Rs 5,709.71 crore, with Rs 3,750.00 crore of fresh issue and Rs 1,959.71 crore of offer for sale. Rs 1,500.00 crore was planned for brand building and Rs 600.00 crore for strategic investments and acquisitions.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Policybazaar IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
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Morgan Stanley India Co. Pvt. Ltd
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Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Policybazaar?
The current Grey Market Premium is ₹70, or 7% over the issue price.
What is the Policybazaar IPO price band?
₹940 to ₹980, on a face value of ₹2.
When is the allotment?
The basis of allotment is 10 November 2021, with listing on 15 November 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
