Policy Bazaar Files for IPO

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Policy Bazaar Files for IPO a Brave Move
Considering the Tax Listing Threats Latest
Funding News by Entrackr
PB Fintech, the determined organization of
PolicyBazaar, filed for its much-awaited
preliminary public listing recently and the news
spread like fire. The company plans to gather Rs
6,017 crore. However, tax specialists have stated
earlier that the initial investors of the IPOs of
corporations inclusive of Zomato and PolicyBazaar
ought to face a 10-15 tax on bonuses. Online
platform Policy Bazaar, provides insurance and
has turn out to be the 5th startup to start the
manner of listing on stock exchanges of India
after Zomato, Paytm, Mobikwik and
CarTrade. Policy Bazaars governing company,
PB Fintech has filed a draft red herring
prospectus with the regulators of the market,
the Securities and Exchange Board of India
(SEBI), to elevate Rs 6,017 crore via an
IPO. The organization will gain Rs 3,750 crores
through issuing new stocks and another Rs 2,267
crore via a secondary sale of stocks through an
offer for sale. SoftBank will promote stocks
really well worth Rs 1,875 crore. The Losses
for the primarily Gurugram-based organization
narrowed to Rupees one hundred fifty crores in
Financial Year 2021, from Rs 304 crore in FY20
and Rs 346 crore in FY19, in line with the
organizations IPO documents. The Total earnings
also jumped to Rs 957 crore in Financial Year
2021, which is a huge jump as compared to the
previous years.
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• The Capital of Rs 3,750 crore will help Policy
  Bazaar IPO to gain from the issue
• Rs 1,500 crore
• Could be used to enhance the visibility and
  recognition of its manufacturers which includes
  PolicyBazaar and Paisabazaar via advertising
  tasks over the following 3 fiscals. The
  organization spent Rs 367.eight crores on
  marketing management and merchandising
  charges in FY21, down from Rs 445.2 crore
  in FY20.
• Rs 375 crore
• Could be spent on new possibilities to make its
  client base bigger, which includes enlargement
  tasks. Recently, Policy Bazaar surrendered its
  Web-based aggregator license and bought an
  insurance dealer license from the Insurance
  Regulatory and Development Authority of
  India. This will permit the organization to
  expand and set up its physical reach. Meanwhile,
  the company also plans to expand the reach of its
  product and services.
• PB Fintech stated it expects to incur huge
  expenses while putting in and running those
  physical centers and its purchase network
  point-of-sales. The organization has already
  announced 15 physical places of work as of July
  15 and is pursuits to have as many as 200
  workplaces throughout and by the end of fiscal
  2024.
• Also read PolicyBazaar Gets Ready to Hit the
  Road to a New Horizon of Success
• Rs 600 crore
• Could be spent on strategic plans of investment
  and acquisitions which might be complementary to
  its commercial enterprise to enhance its products
  and service delivering capabilities, set up or
  enhance its presence in the home ground and
  markets overseas, and use technology to its
  advantage.
• Rs 375 crore