PB Fintech, the parent company Policybazaar and Paisabazaar, has submitted a draft pink herring prospectus (DRHP) with markets regulator Securities and Exchange Board of India (Sebi), with an aim to increase Rs six,017.50 crore by using an initial community supplying (IPO).
The IPO will consist of a refreshing challenge of shares truly worth Rs 3,750 crore and an offer for sale of shares to the tune of Rs two,267.five crore from buyers and existing shareholders.
The marketing buyers include SVF Python II (Cayman) Limited, which is marketing shares truly worth Rs 1,875 crore, and other shareholders will provide shares truly worth Rs 392.50 crore, of which Yashish Dahiya, Chairman and CEO of the company, will be marketing shares truly worth Rs 250 crore.
Cash raised from the community supplying (refreshing challenge) will be utilised to enhance the visibility of and awareness of the brand, which include but not confined to Policybazaar and Paisabazaar, new prospects to develop the consumer foundation which include offline existence, strategic acquisitions, and investments, develop existence exterior India, and typical corporate purposes, the company said in its DRHP.
It has also outlined that it may possibly think about a further challenge of fairness shares by way of personal placement aggregating upto Rs 750 crore prior to submitting the pink herring prospectus with the registrar of organizations (RoC).
Kotak Mahindra Money, Morgan Stanley, Citigroup World Markets India, ICICI Securities, HDFC Bank Ltd, IIFL Securities, and Jefferies India are the reserve working guide professionals to the challenge.
The company said it has incurred losses to the tune of Rs one hundred fifty.24 crore in FY21. “We hope our charges to improve above time and our losses will continue on given the investments expected in direction of escalating our business”, it said.
In FY20, the company had posted a loss of Rs 304 crore and in FY19 losses had been to the tune of Rs 346.8 crore.
The company in its DRHP said it put in Rs 367.84 crore in advertising and promotions in FY21. Likewise, advertising and promotion expenditures in FY20 had been to the tune of Rs 445.two crore in Fy20 and 345.eighty five crore in FY19.
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