PB Fintech Limited | Globe Capital
PB Fintech Limited
Closed
Price Band
Rs. 940 – 980
IPO Issue Period
Nov 01, 2021 to Nov 03, 2021
Issue Size
Rs. 5625 Cr.
Face value
Rs. 2/-
Fresh issue
Rs. 3750 Cr.
Offer for sale
Rs. 1875 Cr.
Minimum Shares for Retail
55 shares
Maximum Shares for Retail
195 shares
Listing on
NSE, BSE
Issue Type
Book Building
Tentative Listing Date
15-Nov-21
QIB
Not More than 75% of the offer
NII
Not less than 15% of the offer
Retail
Not less than 10% of the offer
Registrar to the Issue
Link Intime India Private Ltd

Citigroup Global Markets India Private Limited, HDFC Bank Limited, ICICI Securities Limited, IIFL Securities Ltd, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd

PB Fintech is India’s leading online platform for insurance and lending products. The company provides convenient access to insurance, credit, and other financial products and aims to create awareness in India about the financial impact of death, disease, and damage. In 2008, PB Fintech launched Policybazaar aimed at catering to consumers who need more information, choice, and transparency in insurance policies. Policybazaar is an online platform for consumers and insurer partners to buy and sell insurance products. 51 insurer partners offered over 340 term, health, motor, home, and travel insurance products on the policy bazaar platform, as of March 2021. According to Frost & Sullivan, Policybazaar was India’s largest digital insurance marketplace with a 93.4% market share based on the number of policies sold in Fiscal 2020. Also, in the same year, 65.3% of all digital insurance sales in India by volume were transacted through Policybazaar. PB Fintech also launched Paisabazaar in 2014 intending to provide ease, convenience, and transparency in selecting a variety of personal loans and credit cards for the consumers. The company has partnered with 54 large banks, NBFCs, and fintech lenders offering a wide choice of products to consumers across personal credit categories, including personal loans, business loans, credit cards, home loans, and loans against property. According to Frost & Sullivan, Paisabazaar was India’s largest digital consumer credit marketplace with a 51.4% market share, based on disbursals in Fiscal 2020.

For year/ period ended ( in Cr.)

31 Mar 2021 31 Mar 2020 31 Mar 2019
Total Revenue 957.41 855.56 528.8
Profit After Tax -150.24 -304.09 -346.81
EPS -4.11 -8.68 -12.01
OPM(%)
PATM(%)
  • The Company is providing a wide choice and transparency to customers to research and select insurance and personal credit products.
  • Proprietary Technology helps in superior data intelligence and customer service.
  • Collaborative partnership with various companies for insurance and lending products.
  • It has strong network effects for Policybazaar and Paisabazaar platforms.
  • High renewal rates.
  • Capital efficient model with low operating costs.
  • Experienced Founders and management.
  • For enhancing visibility and awareness of company’s brands, including but not limited to “Policybazaar” and “Paisabazaar” – Rs.15,000 Million;
  • New opportunities to expand company’s consumer base including offline presence – Rs.3,750 Million;
  • Funding strategic investments and acquisitions – Rs.6,000 Million;
  • Expanding presence outside India – Rs.3,750 Million; and
  • General corporate purposes.

Though the company is in operation for over a decade, it has not yet broken the ice to turn green. Based on all parameters, the issue is exorbitantly priced. Hence, risk seeker/cash surplus investors may consider investment for the long term, others may avoid it.

Timeline
Application Start
01-11-2021
Application End
03-11-2021
Allotment Begins
10-11-2021
Refund Initiation
11-11-2021
Allotment Date
12-11-2021
Listing on exchange
15-11-2021
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