Policybazaar surges 16% after strong debut, up 43% against issue price

On Monday, November 15, 2021, Capital Research And Management Co A/C New World Fund Inc had purchased 3.41 million equity shares at price of Rs 1,192.96 per share.

Shares of PB Fintech, the parent company of Policybazaar, rallied another 16 per cent to Rs 1,397 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade after a strong market debut on Monday. With today’s rally, the stock has surged 43 per cent against its issue price of Rs 980 per share.

A sharp rally in market price of the company has helped PB Fintech enter the top-100 most valuable companies in terms of market capitalisation (market-cap). At 09:45 am; with market-cap of Rs 60,842 crore PB Fintech stood at the 95th position in overall market-cap ranking, the