Month: November 2021

Policybazaar IPO opens for subscription: Here are key things to know

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The initial public offering (IPO) of PB Fintech, which operates Policybazaar and Paisabazaar, opened for subscription on Wednesday.

PB Fintech is a leading online platform for insurance and lending products, leveraging the power of technology, data and innovation. It provides convenient access to insurance, credit and other financial products.

Through the IPO, the company will raise an amount of around Rs 5,826 crore. The IPO comprises a fresh issue of shares worth Rs 3,750 crore, along with an offer for sale (OFS) of shares worth Rs 1,959.72 crore by existing promoters and shareholders.

The OFS would be driven by investor SVF Python II (Cayman), which would be selling shares worth Rs 1,875 crore. As of now, Cayman holds 9.45 percent stake in the company.

PB Fintech founders Yashish Dahiya and Alok Bansal will sell fewer number of shares through the OFS than that they had decided earlier in the IPO, as per reports.

Also Read | PharmEasy to file for IPO next week 

PB Fintech has garnered a little over Rs 2,569 crore from anchor investors ahead of its IPO. The company has decided to allocate 26,218,079 shares to 155 anchor investors at Rs 980 apiece, aggregating the transaction size to Rs 2,569.37 crore.

Goldman Sachs, Nomura, BlackRock Global Funds, Morgan Stanley, Canada Pension Plan Investment Board, Fidelity, Abu Dhabhi Investment Authority, ICICI Prudential Mutual Fund (MF), SBI MF, Axis MF and UTI MF are among the anchor investors that have been allocated shares.

Here are the key things to know before investing in the IPO:

IPO dates: The issue opened for subscription on November 1 and will close on Wednesday. Of the entire issue, 75 percent will be reserved for qualified institutional buyers, 15 percent for non-institutional investors and the remaining 10 percent for retail investors.

Price band: The price band of the IPO is set at Rs 940-980 per share.

Issue size: The issue size is 6,07,30,265 shares, with a face value of Rs 2 each.

Objective of issue: The IPO proceeds will be used towards enhancing visibility and awareness of the company’s brands, to look for new opportunities to expand growth initiatives to increase the consumer base including offline presence. The funds will also be utilised for strategic investments and acquisitions, expanding presence outside India and general corporate purposes.

Allotment date: The IPO share allotment will get finalised on November 10.

Listing date: Shares of PB Fintech are likely to make a debut on the bourses on November 15.

IPO lead managers: Kotak Mahindra Capital Company, Morgan Stanley India Company, Citigroup Global Markets India, ICICI Securities, HDFC Bank Ltd, IIFL Securities and Jefferies India are the book running lead managers to the issue.

Also Read | Paytm to be among top 50 companies post-IPO worth Rs 18000 crore

(With inputs from agencies)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Introducing Storyboard18 —the beginning of a new journey

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

In May 2001, Storyboard was launched as a show on CNBC-TV18 to cover the important brand transformations, fundamental changes in the media space and big events in the advertising and marketing industry. It has stayed true to its promise of being a chronicle of the business of brands and the people that build them.

Storyboard too has evolved during that time from a platform that reported on brands to becoming a brand that has set the benchmark for coverage of the advertising and marketing industry.

Our endeavour now is to take Storyboard to new heights and expand what we have to offer you, our viewers, readers and listeners, across the vast breadth of the Network18 Group.

We kick off this journey with a refreshed identity that reflects our new ambitions. And so, we’re delighted to present to you ‘Storyboard18’.

At Storyboard18, we will continue to be a chronicle and a champion of a growing and fast-evolving industry. We will also be a voice of change, by pushing harder to nudge the conversation in the right direction and asking the right questions to get to the crux of every matter.

Our goal as always will be to bring you the stories that matter. We will celebrate the big ideas, breakthrough insights and the brightest people driving brands and businesses forward. You’ll see us amplifying the unheard voices that get lost in trending hashtags. You can count on us to bring you the inside story, the behind-the-scenes story, and the whole story. We will endeavour to bring back fun and creativity in how we tell those stories. Storyboard18 will connect the dots to give you the big picture without losing any of the nuances.

Hopefully, at the end of the day, Storyboard18 will be the place where it all begins for brands and their makers.

To celebrate this new beginning, we have lined up insight-packed stories and a series spotlighting legacy and modern marketers building enduring and legendary brands and businesses out of India. We hope you enjoy our stories and that they enlighten and spark new thoughts and ideas that help you do your job better.

We too are on a journey of learning and growing, and a work in progress. So join us as we build Storyboard18 in front of you as we embark on the next leg of our brand journey.

Write to us with tips, story ideas, bouquets and brickbats, at our old and brand new social media homes on Twitter, Instagram, Facebook and LinkedIn.

Wish us well.

Thank you for reading this.

Delshad Irani, Editor, Storyboard18

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow