Policybazaar raises Rs 2,569 crore from insurance cos, others in IPO anchor round

Online insurance aggregator Policybazaar has raised over Rs 2,569 crore from 155 anchor investors, which included leading insurance firms such as HDFC Life NSE -0.39 %, ICICI Prudential, Bajaj Allianz Life, SBI General Insurance, and Max Life Insurance.

The SoftBank-backed startup saw bids that were nearly 40 times higher for the anchor slot of its initial public offering (IPO), with investors like Fidelity, Baillie Gifford, Dragoneer Group, BlackRock and others also participating.