Let’s have a detailed review of the company and analytics of the Policy Bazaar IPO release date, IPO offer price, subscription, Policy Bazaar Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face ValueRs 2
Price BandRs 940 to  Rs 980
Listing AtBSE, NSE
Min. Order Quantity15 Shares
Listing Date Nov 15, 2021
Offer for SaleRs 18,750 Million
Fresh IssueRs 37,500 Million
IPO SizeRs 56,250 Million
Tick Size1.00

Policy Bazaar IPO is listed at NA premium, check out the live share price by clicking on the below link.


Summary of PolicyBazaar IPO

Policy Bazaar IPOThey have built India’s largest online platform for insurance and lending products leveraging the power of technology, data, and innovation, according to Frost & Sullivan.

They provide convenient access to insurance, credit, and other financial products and aim to create awareness amongst Indian households about the financial impact of death, disease, and damage. Through their consumer-centric approach, they seek to enable online research-based purchases of insurance and lending products and increase transparency, which enables consumers to make informed choices.

They also facilitate their Insurer and Lending Partners in the financial services industry to innovate and design customized products for Consumers leveraging their extensive data insights and data analytics capabilities.

The Promoters of this company are PROFESSIONALLY MANAGED. The lead managers to the issue are Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Citigroup Global Markets India Private Limited, ICICI Securities Limited, HDFC Bank Limited, IIFL Securities Limited, and Jefferies India Private Limited, and the Registrar to this issue is Link Intime India Private Limited


Policy Bazaar IPO Date

The opening and the closing date of Policy Bazaar Limited IPO are Nov 1, 2021, and Nov 3, 2021, respectively.

Check out Related IPO Links:

Policy Bazaar IPO GMP
Allotment of Policy Bazaar IPO 

Policy Bazaar IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – 1st Nov0.56x0.06x1.18x0.54x
2nd Day – 2nd Nov2.08x0.23x2.04x1.59x
3rd Day – 3rd Nov24.89x7.82x3.31x16.58x
Shares Offered or Net Issue19,329,6219,109,5396,073,02634,512,186

The shares subscribed by the public will be updated herein on a daily basis.


Policy Bazaar IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Policy Bazaar IPO Listing Date

Find the dates below on basis of allotment, refund, listing, and more:

Basis of Allotment FinalizationNov 10, 2021
Refunds InitiationNov 11, 2021
The credit of Shares to Demat AccountNov 12, 2021
Share Listing DateNov 15, 2021

Policy Bazaar IPO Price Band / Cash Price

The face value of each share is Rs.2, but the price band of the IPO is Rs 940 to  Rs 980.


Policy Bazaar IPO Size

This Initial Public Issue of [●] Equity Shares of Rs.2 each for cash at a price of Rs 940 to  Rs 980 per equity share aggregating to Rs.56,250 Million.


Policy Bazaar IPO Share Offering

Issue Size: Aggregating up to Rs. 56,250 Million.

Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company of Rs.10 each at a price of Rs [●] per equity share aggregating to Rs.37,500 Million,

Offer for Sale: Offer for sale of up to [●] Eq Shares by the Promoter Selling Shareholder aggregating up to Rs.18,750 million.


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    Policy Bazaar IPO – Live Performance

    The listing date of this IPO is Nov 15, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.

    Live IPO Performance – Policy Bazaar Share Price

    Policy Bazaar IPO Grey Market Premium

    The Policy Bazaar Limited IPO Grey Market Premium price is Rs 150, the Kostak rate is Rs 0 and the Subject to Sauda is Rs 0. 


    Policybazaar – Company Overview

    They launched Policybazaar, their flagship platform, in 2008 to respond to Consumers’ need for more awareness, choice, and transparency and create a consumer-pull-based, provider-neutral model for insurance distribution.

    In 2014, they launched Paisabazaar with the goal to transform how Indians access personal credit by accentuating ease, convenience, and transparency in selecting a variety of personal loans and credit cards.

    According to Frost & Sullivan, in Fiscal 2020, Policybazaar was India’s largest digital insurance marketplace with a 93.4% market share based on the number of policies sold. Furthermore, in Fiscal 2020, 65.3% of all digital insurance sales in India by volume was transacted through Policybazaar.

    Their Policybazaar and Paisabazaar platform offerings address the large and highly underpenetrated online insurance and lending markets. They have an asset-light capital strategy and do not underwrite any insurance or retain any credit risk on their books. Policybazaar is registered with and regulated by IRDAI as a direct (life and general) insurance broker.


    Policybazaar – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

    Financial Summary:

    On the basis of standalone  financial statement:

    Amount (in INR & Millions)
    31-Mar-21Mar 2031-Mar 19
    Total Assets23,307.2615,759.997,514.48
    *Total Revenue9,574.138,555.635,288.07
    Total Expense10,993.2711,504.048,662.37
    Profit After Tax(1,502.42)(3,040.29)(3,468.11)

    The details would be updated shortly.

    Earnings per Equity Share (in Millions)

     31-Mar-21Mar 2031-Mar 19
    Basic & Diluted(2,056.23)(4,338.46)(6,006.58)

    The details would be shortly updated herein and an analysis of the same would also be presented.


    Policy Bazaar IPO – Promoters

    The details of the promoters would be shortly updated.

    The Promoters of this company are:

    • PROFESSIONALLY MANAGED

    List of Related Parties (Key Managerial Personnel)

    • Yashish Dahiya, Chairman, Executive Director, and CEO
    • Alok Bansal, Whole-time Director, and CFO
    • Kitty Agarwal, Non-executive Director
    • Sarbvir Singh, Non-executive Director
    • Munish Ravinder Varma, Non-executive Director
    • Kaushik Dutta, Independent Director

    Policy Bazaar: Business Strategies

    • Broaden and deepen their Consumer reach in India
    • Continue to invest in their brands
    • Neo-lending strategy to cover innovation and segment gaps
    • Continue to invest in their digital and technology infrastructure
    • Pursue strategic investments and acquisitions to enhance product and service capabilities
    • Pursue international expansions
    • Product offerings through Policybazaar

    Policy Bazaar IPO Offer Details or Issue Details

     Particulars No. Of Equity Shares
     Equity Shares Offered Up to [●] Equity Shares aggregating up to Rs.56,250 Millions
    of which:
    Market Maker Reservation PortionUp to [●] Shares aggregating up to Rs.[●] Millions
    Net Issue to the PublicUp to [●] Equity Shares aggregating up to Rs.[●]s Millions
    Of which:
    Retail Portion[●]  Shares aggregating to Rs.[●] Millions
    Non – Institutional PortionNot less  than [●] Equity Shares
     Equity Shares outstanding prior to the Issue411,234,500 Equity Shares
    * Equity Shares outstanding after the Issue[●] Equity Shares

     


    PolicyBazaar IPO Issue Object

    Will be declared and updated soon.

    1. Enhancing visibility and awareness of their brands, including but not limited to “Policybazaar” and “Paisabazaar”;
    2. New opportunities to expand their Consumer base including their offline presence;
    3. Strategic investments and acquisitions;
    4. Expanding their presence outside India; and
    5. General corporate purposes.

    Policy Bazaar IPO – Basis of the Offer Price

    The IPO offer price is determined by the company and the lead managers by market evaluation and book-building process. The price is also influenced by various qualitative and quantitative factors. Some such factors are discussed below.

    The qualitative factors relevant to decide the issue price:

    • They have created strong, Consumer-friendly brands offering a wide choice, transparency, and convenience
    • Their Proprietary Technology, Data, and Intelligence Stack
    • Collaborative partner for Insurer and Lending Partners
    • Their scale gives them unique self-reinforcing flywheels and strong network effects
    • High renewal rates providing clear visibility into future business and delivering superior economics
    • Benefits from economies of segmentation
    • A capital-efficient model with low operating costs
    • Founders with clarity of purpose backed by an experienced management

    The relevant quantitative factors are:

    On the basis of the Standalone statement:-

    Basic & Diluted EPSRONW (%)NAV (Rs.)
    31-Mar-21(4.11)(7.54)54.52
    31-Mar-20(8.68)(24.02)
    31-Mar-19(12.01)(70.74)

    Competitive Peers:

    ParticularsFace Value (in Rs.)EPS  (Basic In Rs.)EPS  (Diluted In Rs.)P/E RatioNAV
    (Rs. per
    share)
    RoNW
    (%)
       Policy Bazaar IPO2(4.11)(4.11)NA54.52(7.54)
    Listed Peers
    NA

    Policy Bazaar IPO Lead Managers

    Lead Managers

    Kotak Mahindra Capital Company Limited

    Morgan Stanley India Company Private Limited

    Citigroup Global Markets India Private Limited

    ICICI Securities Limited, HDFC Bank Limited

    IIFL Securities Limited

    Jefferies India Private Limited

    PolicyBazaar IPO Registrar to offer

    Registrar to offer
    Link Intime India Private Limited
    C 101, 247 Park
    L.B.S. Marg Vikhroli (West)
    Mumbai 400 083 Maharashtra, India
    Telephone: +91 22 4918 6200
    E-mail: policybazaar.ipo@linkintime.co.in
    Website: www.linkintime.co.in
    Investor grievance
    E-mail: policybazaar.ipo@linkintime.co.in
    Contact Person: Shanti Gopalkrishnan
    SEBI Registration No.: INR000004058

    Policy Bazaar IPO – Other Details

    • Statutory Auditor – Price Waterhouse Chartered Accountants LLP
    • Legal Counsel – Shardul Amarchand Mangaldas & Co.
    • Bankers to the Company – NA

    PolicyBazaar IPO Review by Top 10 Stock Brokers

    Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking6.6/106.6/106.8/106.3/106.7/10
    Sharekhan6.4/106.4/106.5/106.7/106.8/10
    Kotak Securities6.7/106.4/106.3/106.8/106.5/10
    ICICI Direct6.8/106.7/106.5/106.5/106.7/10
    IIFL6.5/106.8/106.3/106.7/106.5/10
    Edelweiss6.3/106.5/106.7/106.3/106.3/10
    Zerodha6.7/106.3/106.6/106.5/106.7/10
    5Paisa6.9/106.5/106.8/106.3/106.3/10
    Karvy6.7/106.3/106.5/106.5/106.7/10
    Motilal Oswal6.9/106.7/106.3/106.3/105.6/10

     


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      Policy Bazaar IPO News

      News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

      News 2 – Policy Bazaar Limited IPO RHP Download


      Policy Bazaar IPO Review FAQs

      Ques – What is the Issue Size of Policy Bazaar IPO?

      Answer – The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

      Ques – What is the Price band?

      Answer – The price band for this particular IPO ranges between Rs 940 to  Rs 980. As far as the face value of the share is of concern, it is Rs.2 per share.

      Ques – What is the Policy Bazaar IPO Open Date?

      Answer – The opening and closing dates for the IPO have been updated. The IPO is set to open on Nov 1, 2021, while the closing date is set at Nov 3, 2021.

      Ques – What is the IPO Allotment Date?

      Answer – They also have the news regarding the respective allotment dates. Basis of Allotment finalization is on Nov 10, 2021, refund initiation is on Nov 11, 2021, credit of shares is on Nov 12, 2021, and share listing date is on Nov 15, 2021.

      Ques – What is the IPO Listing Date?

      Answer – Shares of this company shall be listed in the exchanges on Nov 15, 2021. The date when the listing would be done is stagnant on Nov 15, 2021.

      Ques – Who is the Registrar of this IPO?

      Answer – One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.

      Ques – Who is the Promoter of this Company?

      Answer – Here are the promoters of this company – PROFESSIONALLY MANAGED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

      Ques – What is the GMP of Policy Bazaar IPO?

      Answer – They have obtained the GMP of this IPO and it is Rs 150. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.

      Ques – Is Policy Bazaar IPO good for Investment?

      Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

      Ques – What is the PAT of this Company?

      Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Millions is (1,502.42), 2020 is (3,040.29), 2019 is (3,468.11).


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