Policybazaar parent's IPO fully subscribed on Day 2
The Rs 5,650-crore initial public offer (IPO) of PB Fintech, the parent company of Policybazaar and Paisabazaar, sailed through on Day 2 of the bidding process on Tuesday. As of 5:00 pm, the issue had received applications for 5,47,59,750 shares against 3,45,12,186 shares on offer, meaning a subscription of 1.59 times. The issue is the biggest, and the most buzzed, among the three IPOs that hit the primary market this week.
The company is selling its shares in the range of Rs 940-980 apiece.