Policybazaar founders to cut sale of own shares in IPO by 85-90%
Rs 5,700 crore IPO is looking at a listing valuation of $6.15 billion. Owing to
the abundance of liquidity in the global markets and bullishness on tech IPOs
in India, startups are of the view their valuation would go higher after the
listing as they continue to chase growth.
Yashish Dahiya and Alok Bansal, founders of PB Fintech--parent of Policybazaar--have significantly reduced the number of shares they are selling through the offer for sale (OFS) component in the initial public offering (IPO) set to open on Monday. Increased interest in tech IPOs and the headroom for further growth in its business as well as likely valuation after the share sale led to the founders reducing their OFS by 85-90% by value.