Published on 27/10/2021 12:06:37 PM | Source: Dion Global Solutions Ltd

PB Fintech announces launch of initial public offering

Posted in IPO Analysis| #IPO

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

PB Fintech Ltd. has announced public offering of 57397960 shares at a price of Rs 2.00 each for Cash at a Premium of Rs 978.00 per share. The gross proceeds of the issue are expected to be Rs 5,62,500.01 lakhs. The company's initial public offer (IPO) will open on 01 November 2021 and is expected to close on 03 November 2021, subject to customary closing conditions.

The price band of the issue has been fixed at Rs 940.00-980.00 per share. The IPO includes a fresh Issue of 57397960 Equity Shares of the Company at an price of Rs 980.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 15 shares with bids in multiples of 15. PB Fintech Ltd. anticipates using the proceeds of the issue for Enhancing visibility and awareness of the brands, including but not limited to “Policybazaar and “Paisabazaar; New opportunities to expand the Consumer base including the offline presence Strategic investments and acquisitions Expanding the presence outside India General corporate purposes. HDFC Bank Ltd,Citigroup Global Markets India Pvt.Ltd.,Jefferies India Pvt. Ltd.,Kotak Mahindra Capital Company Ltd.,Morgan Stanley India Company Private Limited,IIFL Securities Limited,ICICI Securities Ltd as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.