Investment bankers estimate IPO value at $1.5 billion: PolicyBazaar

PolicyBazaar offers online marketplace for insurance products while financial products like loans, credit cards are sold through PaisaBazaar

The parent company of online financial consultancy portals PolicyBazar and PaisaBazaar are in talks with investment bankers to launch an initial public offering (IPO) and raise $1.5 billion, according to media reports.

The company has met over 15 investment bankers with an opportunity to pitch for the IPO that could roll out next year, reported the Times of India.

PolicyBazaar Chief Executive Officer (CEO) Yashish Dahiya did not confirm the $1.5 billion-valuation mentioned in the story. "The valuation of $1.5 billion is an estimate by some of the investment bankers for the time when we may actually launch the IPO