Policybazaar IPO Shares Allotment Status: Here is how to check online on BSE

Policybazaar IPO: The initial public offer of PB Fintech Limited, which operates online insurance platform Policybazaar and credit comparison portal Paisabazaar, was subscribed 16.59 times. The issue received bids for 57,23,84,100 shares against 3,45,12,186 shares on offer, according to NSE data. 

Policybazaar/PB Fintech IPO allotment finalisation may take place on 10th November.

Here is how you check Policybazaar IPO shares allotment status online on BSE website:-

Step 1- Login at BSE link — bseindia.com/investors/appli_check.aspx
 
Step 2- Select Policybazaar/PB Fintech
 
Step 3- Enter your Policybazaar IPO application number
 
Step 4- Enter your PAN card details
 
Step 5 - Click at 'I'm not a robot'

Step 6 - Click at 'Submit' button
 
You will get to know the Policybazaar IPO allotment status of your application

Policybazaar IPO

-The category for Qualified Institutional Buyers (QIBs) was subscribed 24.89 times and that of non institutional investors 7.82 times and Retail Individual Investors (RIIs) 3.31 times.

-Price range for the offer was at Rs 940-980 per share.

-The Rs 5,710-crore IPO had a fresh issue of Rs 3,750 crore worth of equity shares and an offer for sale of about Rs 1,960 crore by existing shareholders.

-PB Fintech garnered a little over Rs 2,569 crore from anchor investors.

-Proceeds generated from the fresh issue will be used towards enhancing visibility and awareness of the company's brands, to look for new opportunities to expand growth initiatives to increase the consumer base including offline presence.

-Also, the proceeds from the IPO will be used for funding strategic investments and acquisitions, expanding presence outside India and general corporate purpose.

- Citigroup Global Markets India, Kotak Mahindra Capital Company, Morgan Stanley India Company, ICICI Securities, HDFC Bank, IIFL Securities and Jefferies India were the book running lead managers to the offer.