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Shares of PB Fintech, the company that operates online insurance marketplace Policybazaar, rose 23 per cent during their stock market debut on Monday. The company joined peers in the startup space Zomato and Nykaa to see a jump in share price during the first day of trade.
Policybazaar is a web aggregator where consumers can compare insurance products of various companies and buy them. At the last closing price, PB Fintech is valued at around Rs 54,000 crore. The company has raised Rs 3,750 crore in fresh capital in its IPO. The issue proceeds will be used to enhance its brand
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