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Policybazaar IPO is open, 10 Important Things to consider

policybazaar IPO
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As Nykaa IPO closed today, Policybazaar IPO is on roll. PB Fintech owns policy bazaar and paisa bazaar. It has built India’s largest online platform for insurance and credit comparison.

Things to Know about Policybazaar IPO

  • The company is planning to raise Rs 5,700 crore through its IPO.
  • Policybazaar shares are available at a premium (GMP) of 150 in the grey market today.
  • This will list on NSE and BSE on 15 November.
  • IPO is opening on 1st November, the offer will close on November 3, 2021.
  • Retail investors are allowed to invest a minimum of Rs 14,700 per lot.
  • Maximum investment by them would be Rs 1,91,100 for 13 lots.
  • Seventy-five percent of the total offer is reserved for qualified institutional buyers.
  • 15 percent for non-institutional buyers, and the remaining 10 percent for retail investors.
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How to apply for IPO?

  • In order to invest in IPO shares, first open a Demat account as well as a trading account. In Dmat acount select your IPO and make payment.
  • This will block certain ammount in your account.

Once the application is submitted after entering all the necessary details, a mandate request is sent on the UPI application for approval. The applicant must log in to the UPI application and accept the mandate request. Once it is accepted, the amount for IPO is blocked.

Upon allotment, if no shares are allotted, the entire blocked amount is unblocked. If there is a part allotment, the requisite amount is debited from the bank account and the remaining amount is unblocked. The entire amount is debited if the applicant is allotted all the shares that were applied for.

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