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Insurance aggregator Policybazaar raises Rs.2,569-Cr from anchor investors

MoneyControl  

PB Fintech, the operator of Policybazaar, has raised INR 2,569.4 crore from 155 anchor investors on October 29, a day ahead of IPO opening. The company finalised allocation of 2,62,18,079 equity shares to anchor investors at a price of INR 980 apiece. Global investors who participated in the anchor book include New World Fund Inc, American Funds Insurance Series, Blackrock, Baillie Gifford, Pacific Horizon Investment Trust Plc, Canada Pension Plan Investment Board, Fidelity Funds, Abu Dhabi Investment Authority, Goldman Sachs, Aberdeen Global, Nomura, Carmignac Portfolio, Schroder Fund, Baron, and WF Asian Smaller Companies Fund. Domestic investors who participated in the anchor book include HDFC MF, ICICI Prudential, SBI MF, Axis MF, Aditya Birla Sun Life Trustee, Kotak Mutual Fund, Nippon Life, UTI MF, Franklin MF, DSP MF, Bajaj Allianz Life Insurance, HDFC Life Insurance, SBI Life Insurance, and Max Life Insurance. PB Fintech is planning to raise INR 5,625 crore through its IPO that consists of a fresh issue of INR 3,750 crore, and an offer for sale of INR 1,875 crore by investor SVF Python II (Cayman) and other selling shareholders.