SoftBank-backed insurance aggregator Policybazaar files for $810 million IPO

SoftBank Group-backed online insurance aggregator Policybazaar has filed for an initial public offering of up to 60.18 billion rupees ($809.36 million), joining a string of Indian startups that have tapped capital markets in recent months.

Indian food-delivery firm Zomato had a stellar public debut last month, while fintech firm Paytm has filed for a listing as markets hover at record highs and cash-laden investors hunt for firms likely to benefit in the post-pandemic world.

PB Fintech Ltd, Policybazaar’s parent, will issue new shares worth 37.5 billion rupees and existing investors will offload shares worth 22.68 billion rupees in the offering, a draft prospectus showed https://www.investmentbank.kotak.com/downloads/pb-fintech-limited-DRHP.pdf on Monday.