PB Fintech shares close with nearly 23% premium on debut

Shares of PB Fintech, which operates online insurance platform Policybazaar and credit comparison portal Paisabazaar, listed with a premium of nearly 23 percent against its issue price of Rs 980 on November 15.

The stock made its debut at Rs 1,150, up 17.34 percent on both the BSE and NSE. It gained 27.44 percent to Rs 1,249 during the day on the BSE. It rallied 22.74 percent to close at Rs 1,202.90.

On the NSE, it jumped 22.61 percent to close at Rs 1,201.60. In traded volume terms, 12.93 lakh shares were traded at the BSE and over 3.63 crore shares at the NSE during the day.

The initial public offer of PB Fintech was subscribed 16.59 times earlier this month. Price range for the Rs 5,710-crore offer was at Rs 940-980 per share.