Online insurer Policybazaar eyes IPO on Nasdaq by next September

The LS had on Saturday passed the Companies (Amendment) Bill, 2020 amending the Companies Act which seeks to allow certain public companies to list certain types of securities in foreign jurisdictions

Online insurance company Policybazaar, which is aiming to go public by September next year, is eyeing an IPO on Nasdaq.
 

“If we are allowed to, we would do it on Nasdaq, if we are not allowed to we would do it on BSE,” said Yashish Dahiya, chief executive officer and co-founder of the company, while speaking at the 47th National Management Convention (NMC) of All India Management Association (AIMA).
 

The Lok Sabha had on Saturday passed the Companies (Amendment) Bill, 2020 amending the Companies Act, 2013, which seeks to allow certain public companies to list certain types of securities in foreign jurisdictions. This move could give a boost to several Indian startups looking to raise money from foreign investors.
 

Dahiya had earlier said he would consider a dual listing if rules change in India. The SoftBank and Tiger Global-backed company is aiming for an IPO at a valuation of $3.5 billion and is looking to raise a $250 million round at a $2 billion-plus valuation before that.