Hot Pursuit     13-Dec-21
PB Fintech slips as anchor lock-in period ends
PB Fintech fell 3.53% to Rs 1,093 as the mandatory one-month lock-in of anchor investors expired for the stock today, 13 December 2021.
Anchor investors are marquee institutional investors who are allotted shares in a company ahead of its initial public offer (IPO).

Ahead of the IPO, PB Fintech on 29 October 2021 finalized allocation of 2,62,18,079 equity shares to anchor investors at an allocation price of Rs 980 per share, aggregating to Rs 2,569.37 crore.

Shares of PB Fintech hit 52-week low of Rs 1,087.85 in intraday today on BSE. The counter is down 25.65% from its 52-week high of Rs 1,470 posted on 17 November 2021.

The IPO consisted of a fresh issue to raise Rs 3,750 crore and an offer for sale of shares worth Rs 1,959.72 crore by existing shareholders.

The scrip was listed on 15 November 2021 at Rs 1150, a premium of 17.35% to the issue price of Rs 980. The initial public offer (IPO) of PB Fintech received was subscribed 16.58 times. The issue opened for bidding on 1 November and it closed on 3 November. The price band of the IPO was fixed at Rs 940-980 per share.

The company aims to utilize Rs 1500 crore from the net proceeds of the issue for enhancing visibility and awareness of brands, including but not limited to 'Policybazaar' and 'Paisabazaar'. The company wants to utilize Rs 375 crore for pursuing new opportunities to expand its consumer base including offline presence, Rs 600 crore for strategic investments and acquisitions and Rs 375 crore for expanding presence outside India.

PB Fintech, owner of Policybazaar and Paisabazaar platforms, is India's largest online platform for insurance and lending products leveraging the power of technology, data, and innovation. It provides convenient access to insurance, credit and other financial products and aims to create awareness amongst Indian households about the financial impact of death, disease, and damage.

The company reported a net loss of Rs 110.84 crore and sales of Rs 237.73 crore in the quarter ended on 30 June 2021.

Previous News
  Market drift higher; Nifty climbs above 22,900
 ( Market Commentary - Mid-Session 07-Jun-24   09:42 )
  Volumes jump at Delhivery Ltd counter
 ( Hot Pursuit - 17-Nov-23   11:00 )
  PB Fintech gets RBI nod for account aggregator business
 ( Hot Pursuit - 12-Jan-23   15:17 )
  PB Fintech declines on profit booking
 ( Hot Pursuit - 27-Feb-23   11:42 )
  PB Fintech jumps on bargain hunting
 ( Hot Pursuit - 25-Aug-22   10:13 )
  PB Fintech allots 6.16 lakh equity shares under ESOP
 ( Corporate News - 22-Nov-22   19:48 )
  PB Fintech Q3 net loss narrows to Rs 88 cr
 ( Hot Pursuit - 11-Feb-23   17:10 )
  PB Fintech spurts after Capital Research and Management buys stake
 ( Hot Pursuit - 16-Nov-21   10:21 )
  PB Fintech reports consolidated net profit of Rs 38.05 crore in the December 2023 quarter
 ( Results - Announcements 31-Jan-24   07:37 )
  PB Fintech reports consolidated net loss of Rs 20.24 crore in the September 2023 quarter
 ( Results - Announcements 06-Nov-23   07:34 )
  PB Fintech consolidated net profit rises 88.02% in the December 2024 quarter
 ( Results - Announcements 31-Jan-25   07:37 )
Other Stories
  Jubilant FoodWorks drops after Q3 PAT slumps 24% YoY to Rs 496 cr
  12-Feb-25   15:57
  Reliance Industries hits 14-month low; down over 5% in four sessions
  12-Feb-25   15:51
  P&G Health gains as Q3 PAT jumps 26% YoY to Rs 91 cr; declares interim dividend of Rs 80/share
  12-Feb-25   15:45
  Campus Activewear spurts after Q3 PAT climbs 87% YoY to Rs 46 cr
  12-Feb-25   15:13
  Gensol Engineering Ltd leads losers in 'A' group
  12-Feb-25   15:00
  Pearl Global rallies after strong Q3 numbers
  12-Feb-25   14:53
  Patel Engg climbs after Q3 PAT jumps 14% YoY to Rs 80 cr
  12-Feb-25   14:52
  WPIL Ltd leads losers in 'B' group
  12-Feb-25   14:45
  Crisil Ratings assigns 'A+' rating to bank facilities of Acme Solar Holdings
  12-Feb-25   14:44
  Ashok Leyland soars after strong Q3 outcome
  12-Feb-25   14:34
Back Top