PB Fintech IPO subscribed 16.59 times on Day 3

Mumbai: The initial public offering (IPO) of PB Fintech Ltd, which operates online insurance platform Policybazaar and financial services portal Paisabazaar, was subscribed 16.59 times on the third day of subscription on Wednesday.

The issue received bids for 57.24 crore equity shares against an offer size of 3.45 crore. The portion of shares reserved for qualified institutional investors was subscribed 24.89 times while non-institutional investors or high networth individuals put in bids 7.82 times the amount set aside for them. The retail investors’ portion was subscribed 3.31 times.