PB Fintech board to meet on Feb 5 to mull on fundraising via QIP for potential acquisitions

QIP for potential acquisitions

PB Fintech Limited, the parent company of Policybazaar and Paisabazaar, is looking to pursue inorganic growth through acquisitions and is looking to raise money via a Qualified Institutions Placement (QIP), the company said in a statement to stock exchanges.

The online insurance aggregator's board will meet on February 5 to decide on QIP.

"The proceeds of the above-mentioned capital raise are proposed to be utilised for pursuing the strategy to expand through inorganic opportunities. The Company has not identified a specific target in this regard," PB Fintech said in a statement.

According to the company, it had followed a robust organic growth trajectory over the years and is looking to complement this going forward.

"The board discussed on its strategy to complement this by selectively pursuing inorganic opportunities in local and/or international markets, through strategic investments, acquisitions and/or partnerships," the company said.

On February 2 reported a 165 percent growth in net profit at Rs 189 crore for the December quarter of FY 26, aided by the strong performance of new health and life insurance policies. The overall premium grew by 45 percent during the quarter.