The Info Edge, Intel, Tencent and SoftBank-backed operator of insurance and financial products comparison tools PolicyBazaar and PaisaBazaar has gone public, having raised $343m in pre-IPO funding.
PB Fintech, the India-based, corporate-backed marketing and consulting group that owns insurance listings platform PolicyBazaar, floated today in a Rs 56.3bn ($750m) initial public offering.
The offering will be open until November 3 and each share is priced at Rs 980 ($13.10). PB Fintech issued 26.2 million new shares totalling $500m while existing shareholders including internet and telecommunications firm SoftBank and its Vision Fund (through SVF Python II) are divesting $250m.
Founded in 2008, PB Fintech…
