Policybazaar and Paisabazaar operator PB Fintech shares made a decent debut on November 15 as the stock listed with a 17.35 percent premium. The opening tick on the BSE was Rs 1,150.
The price trend was largely in line with analysts’ expectations and grey market trends.
The initial share sale of online insurance and lending products distributor has seen a good subscription of 16.58 times during November 1-3, garnering bids worth Rs 56,093.64 crore.
PB Fintech, which is widely known for Policybazaar, mopped up Rs 5,625 crore through its public issue that composed of a fresh issuance of shares worth Rs 3,750 crore and an offer for sale of Rs 1,960 crore by selling shareholders.