The initial public offering (IPO) of PB Fintech that owns Policybazaar and Paisabazaar, has seen good demand from investors as it received bids for 5.58 crore equity shares against offer size of 3.45 crore equity shares, which resulted into a subscription of 1.62 times on November 3, the final day of bidding.
The qualified institutional investors, for whom the 75 percent of the offer is reserved, have put in bids 2.08 times the portion set aside for them. Non-institutional investors have bought 27 percent shares of their total reserved portion.
Retail investors’ response to the offer remained strong as their reserved portion was subscribed 2.18 times.
News Source:- Moneycontrol