Policybazaar's parent firm PB Fintech gets Sebi nod for Rs 6,017-cr IPO

As per the draft papers, the firm may consider raising around Rs 750 crore by way of a private placement of equity shares ahead of the IPO

PB Fintech Ltd, which operates online insurance platform Policybazaar and credit comparison portal Paisabazaar, has received capital markets regulator Sebi's approval to raise Rs 6,017.50 crore through an initial share-sale.

The initial public offer (IPO) comprises a fresh issue of Rs 3,750 crore worth of equity shares and an offer for sale of Rs 2,267.50 crore by existing shareholders, according to draft red herring prospectus (DRHP).

As part of the OFS, SVF Python II (Cayman) will sell shares worth Rs 1,875 crore, Yashish Dahiya will sell shares worth Rs 250 crore and some other selling shareholders will also offer shares.