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PB Fintech, the determined
organization of PolicyBazaar, filed for its much-awaited preliminary public
listing recently and the news spread like fire. The company plans to gather Rs
6,017 crore. However, tax specialists have stated earlier that the initial
investors of the IPOs of corporations inclusive of Zomato and PolicyBazaar ought to face a 10-15% tax on bonuses.
Online platform Policy Bazaar, provides insurance and has turn out to be
the 5th startup to start the manner of listing on stock exchanges of India
after Zomato, Paytm, Mobikwik and CarTrade.
Policy Bazaar’s governing
company, PB Fintech has filed a draft red herring prospectus with the
regulators of the market, the Securities and Exchange Board of India (SEBI), to
elevate Rs 6,017 crore via an IPO.
The organization will gain Rs
3,750 crores through issuing new stocks and another Rs 2,267 crore via a
secondary sale of stocks through an offer for sale. SoftBank will promote
stocks really well worth Rs 1,875 crore.
The Losses for the primarily
Gurugram-based organization narrowed to Rupees one hundred fifty crores in
Financial Year 2021, from Rs 304 crore in FY20 and Rs 346 crore in FY19, in
line with the organization’s IPO documents. The Total earnings also jumped to
Rs 957 crore in Financial Year 2021, which is a huge jump as compared to the
previous years.
The Capital of Rs 3,750 crore will
help Policy Bazaar IPO to gain from the
issue:
■ Rs 1,500 crore
Could be used to enhance the
visibility and recognition of its manufacturers which includes PolicyBazaar and
Paisabazaar via advertising tasks over the following 3 fiscals. The
organization spent Rs 367.eight crores on marketing management and
merchandising charges in FY21, down from Rs 445.2 crore in FY20.
■ Rs 375 crore
Could be spent on new possibilities
to make its client base bigger, which includes enlargement tasks. Recently,
Policy Bazaar surrendered its Web-based aggregator license and bought an
insurance dealer license from the Insurance Regulatory and Development
Authority of India. This will permit the organization to expand and set up its
physical reach. Meanwhile, the company also plans to expand the reach of its
product and services.
PB Fintech stated it expects to
incur huge expenses while putting in and running those physical centers and its
purchase network point-of-sales. The organization has already announced 15
physical places of work as of July 15 and is pursuits to have as many as 200
workplaces throughout and by the end of fiscal 2024.
Also read: PolicyBazaar Gets Ready to Hit the Road to a New Horizon
of Success
■ Rs 600 crore
Could be spent on strategic plans
of investment and acquisitions which might be complementary to its commercial
enterprise to enhance its products and service delivering capabilities, set up
or enhance its presence in the home ground and markets overseas, and use
technology to its advantage.
■ Rs 375 crore
Will be put into increasing its
presence out of Indian
markets, mainly in areas inclusive of the Middle East
and Southeast Asia. The organization presently operates in
Dubai via a subsidiary company.
PolicyBazaar could
be the second massive organization in Info Edge’s
portfolio to move public after Zomato, which had a blockbuster
public marketplace debut in the recent past month.
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