Policy Bazaar IPO – Review, Allotment Status, Subscription, Price, Date & more
Last Updated Date: Aug 30, 2023Let’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 Value | Rs 2 |
| Price Band | Rs 940 to Rs 980 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 15 Shares |
| Listing Date | Nov 15, 2021 |
| Offer for Sale | Rs 18,750 Million |
| Fresh Issue | Rs 37,500 Million |
| IPO Size | Rs 56,250 Million |
| Tick Size | 1.00 |
Policy Bazaar IPO is listed at NA premium, check out the live share price by clicking on the below link.
Summary of PolicyBazaar IPO
They 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 / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 1st Nov | 0.56x | 0.06x | 1.18x | 0.54x |
| 2nd Day – 2nd Nov | 2.08x | 0.23x | 2.04x | 1.59x |
| 3rd Day – 3rd Nov | 24.89x | 7.82x | 3.31x | 16.58x |
| Shares Offered or Net Issue | 19,329,621 | 9,109,539 | 6,073,026 | 34,512,186 |
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 Finalization | Nov 10, 2021 |
| Refunds Initiation | Nov 11, 2021 |
| The credit of Shares to Demat Account | Nov 12, 2021 |
| Share Listing Date | Nov 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-21 | Mar 20 | 31-Mar 19 | |
| Total Assets | 23,307.26 | 15,759.99 | 7,514.48 |
| *Total Revenue | 9,574.13 | 8,555.63 | 5,288.07 |
| Total Expense | 10,993.27 | 11,504.04 | 8,662.37 |
| 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-21 | Mar 20 | 31-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 Portion | Up to [●] Shares aggregating up to Rs.[●] Millions |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●]s Millions |
| Of which: | |
| Retail Portion | [●] Shares aggregating to Rs.[●] Millions |
| Non – Institutional Portion | Not less than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 411,234,500 Equity Shares |
| * Equity Shares outstanding after the Issue | [●] Equity Shares |
PolicyBazaar IPO Issue Object
Will be declared and updated soon.
- Enhancing visibility and awareness of their brands, including but not limited to “Policybazaar” and “Paisabazaar”;
- New opportunities to expand their Consumer base including their offline presence;
- Strategic investments and acquisitions;
- Expanding their presence outside India; and
- 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 EPS | RONW (%) | 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:
| Particulars | Face Value (in Rs.) | EPS (Basic In Rs.) | EPS (Diluted In Rs.) | P/E Ratio | NAV (Rs. per share) |
RoNW (%) |
| Policy Bazaar IPO | 2 | (4.11) | (4.11) | NA | 54.52 | (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 Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 6.6/10 | 6.6/10 | 6.8/10 | 6.3/10 | 6.7/10 |
| Sharekhan | 6.4/10 | 6.4/10 | 6.5/10 | 6.7/10 | 6.8/10 |
| Kotak Securities | 6.7/10 | 6.4/10 | 6.3/10 | 6.8/10 | 6.5/10 |
| ICICI Direct | 6.8/10 | 6.7/10 | 6.5/10 | 6.5/10 | 6.7/10 |
| IIFL | 6.5/10 | 6.8/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Edelweiss | 6.3/10 | 6.5/10 | 6.7/10 | 6.3/10 | 6.3/10 |
| Zerodha | 6.7/10 | 6.3/10 | 6.6/10 | 6.5/10 | 6.7/10 |
| 5Paisa | 6.9/10 | 6.5/10 | 6.8/10 | 6.3/10 | 6.3/10 |
| Karvy | 6.7/10 | 6.3/10 | 6.5/10 | 6.5/10 | 6.7/10 |
| Motilal Oswal | 6.9/10 | 6.7/10 | 6.3/10 | 6.3/10 | 5.6/10 |
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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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