PolicyBazaar News

Paisabazaar said that it has not been onboarding new customers as the platform is transitioning to a new external platform. The transition move was taken to streamline back-end operations.

The IPO was overall subscribed 16.59 times on the last day of subscription on Wednesday, November 3. NSE data points out that the issue received bids for 57,23,84,100 shares against 3,45,12,186 shares on offer. The share allotment process is expected to be completed by next week.

The issue, with a price band of Rs 940-980 a share, will open for public subscription during November 1-3.

PolicyBazaar IPO (initial public offering) will comprise a fresh issue of Rs 3,750 crore worth of equity shares.

The IPO will comprise a fresh issue of equity shares worth Rs 3,750 crore. Existing shareholders will sell their shares worth Rs 2,267.50 crore through the upcoming IPO. In the offer for sale (OFS), SVF Python II (Cayman) will sell shares worth Rs 1,875 crore.

Policybazaar could launch its IPO to raise Rs 6,017 crore. Mobikwik plans to raise Rs Rs 1,900 crore with its initial offer.

The web aggregator had sent SMS to about 10 lakh customers. The SMS said that life insurance prices are set to increase from April 1. Irdai sought an explanation from Policybazaar on April 7, 2020.

As an ever-growing number of consumers flock to e-commerce websites for their shopping needs, regulator Sebi is considering allowing sale of mutual funds through these platforms to deepen this market.