Policybazaar IPO, price band set at Rs 940-Rs 980 a share, to open on 1st November

PB Fintech, the operator of online insurance aggregator Policybazaar has released the dates of its upcoming IPO. The issue would open on November 1 and will close on November 3 and the date for finalisation of basis of allotment with the stock exchange has been stated as November 10. The dates for initiation of refunds and credit of shares were stated as November 11 and November 12, respectively.

The price band of the IPO has been set at Rs 940-980 per share. The issue size is 6,07,30,265 shares, with a face value of Rs 2 each.

Through the public issue, PB Fintech will raise an amount of around Rs 5709.72 crore, reports said, adding that the IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders.