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Upcoming IPO: Policybazaar, SJS Enterprises To Go Public In November. Check Details

Policybazaar IPO will close on November 3 and the date for finalisation of basis of allotment with the stock exchange has been stated as November 10.

Upcoming IPO: Policybazaar, SJS Enterprises To Go Public In November. Check Details
Upcoming IPO: Policybazaar, SJS Enterprises To Go Public In November. Check Details
outlookindia.com
2021-10-27T13:28:09+05:30

PB Fintech, the operator of online insurance aggregator Policybazaar, on October 26 released the dates of its upcoming initial public offering (IPO). The issue would open on November 1, the company said in a red herring prospectus, reported Moneycontrol.

The IPO will close on November 3 and the date for finalisation of basis of allotment with the stock exchange has been stated as November 10.

The price band of the IPO has been set at Rs 940-980 per share. The issue size is 6,07,30,265 shares, with a face value of Rs 2 each.

The dates for initiation of refunds and credit of shares were stated as November 11 and November 12, respectively.

Through the public issue, PB Fintech will raise an amount of around Rs 5709.72 crore, reports said, adding that the IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders.

SJS Enterprises on Wednesday said it has fixed a price band of Rs 531-542 a share for its Rs 800-crore initial public offering, which will open on November 1.

The initial public offering (IPO) will conclude on November 3. The bidding for anchor investors will open on October 29, the company announced in a virtual press conference.

The Rs 800-crore IPO is entirely an offer-for-sale of shares worth Rs 710 crore by Evergraph Holdings Pte Ltd and shares to the tune of Rs 90 crore by KA Joseph.

At present, Evergraph Holdings and KA Joseph own 77.86 per cent and 20.74 per cent stake in the company, respectively.

The company will not receive any proceeds from the offer.

Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

(With PTI Inputs)

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