Policybazaar Shares To Debut On Bourses On November 15

Shares of Policybazaar will be listed on the stock exchanges on Monday (November 15). The stocks of PB Fintech (the parent company which operates Policybazaar) will be listed both on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

PB Fintech through its Policybazaar initial public offer (IPO) had raised Rs 5,625 crore earlier this month. The portion reserved for qualified institutional buyers (QIBs) was subscribed 24.89 times, retail investors' portion was booked 3.31 times and that of non-institutional investors saw 7.82 times subscription.

The IPO was subscribed 16.58 times between November 1 and November 3, when it was open for subscription.

It consisted of a fresh issue of Rs 3,750 crore and an offer for sale of Rs 1,960 crore by shareholders, including SVF Python II (Cayman).

The company plans to enhance visibility and generate greater awareness about its brands (Policybazaar as well as Paisabazaar) through the proceeds.

It will expand consumer base including offline presence, make strategic investments and acquisitions and will also set up bases in other countries.

Microcrystalline cellulose manufacturer Sigachi Industries' shares will also be listed on NSE and BSE on November 15.

It's IPO had seen 101.91 times subscription earlier this month. It had received bids for 54,89,47,440 shares against 53,86,500 shares on offer that had opened on November 1. The offer had closed on November 3, 2021.

The portion for non-institutional investors was subscribed 172.43 times, those reserved for QIBs 86.51 times and retail investors' share was subscribed 80.49 times.

Sigachi Industries is engaged in the manufacturing of microcrystalline cellulose which is widely used as an excipient for finished dosages in the pharmaceutical industry and has varied applications in food, nutraceuticals, and the cosmetic industries.

Shares of SJS Enterprises will also debut on the bourses on Monday. It's IPO was subscribed 1.59 times.