Policybazaar all set to hit the market, raise Rs 6,500 crore via IPO

The Softbank-backed insurance aggregator is also likely to consider offer for sale from some of its investors

Policybazzar is all set to hit the market, planning to raise Rs 6,500 crore. PB Fintech, the parent company of Policybazaar in a regulatory filing approved a resolution to raise the said amount via fresh issue of equity.

The Softbank-backed insurance aggregator, in its filing, also stated that apart from fresh equity issue, it can also consider offer for sale from some of its investors. The resolution was passed in an extra-ordinary general meeting (EGM) held by the company on July 5, 2021.

The company has increased the limit of investments by NRIs and OCIs from 10 per cent to 24 per