Policybazaar IPO to open on November 1 and close on November 3

Policybazaar IPO: PB Fintech, the operator of online insurance aggregator Policybazaar, on October 26 released the dates of its upcoming initial public offering (IPO). The issue would open on November 1, the company said in a red herring prospectus.

The IPO will close on November 3 and the date for finalisation of basis of allotment with the stock exchange has been stated as November 10.

The price band of the IPO has been set at Rs 940-980 per share. The issue size is 6,07,30,265 shares, with a face value of Rs 2 each.

The dates for initiation of refunds and credit of shares were stated as November 11 and November 12, respectively. Through the public issue, PB Fintech will raise an amount of around Rs 5709.72 crore, reports said, adding that the IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by