PB FINTECH IPO
PB Fintech, Delhivery improve Q2 profits; Binance's $6.3 billion caper
PB Fintech on Friday reported a strong jump in profit and revenue for the July-September quarter. This and more in today’s ETtech Top 5.
PB Fintech extends losing streak to 7 sessions, stock hits 32-month low
PB Fintech, the parent company of Policybazaar, has seen a significant decline in its stock value. Following a consultation paper from Irdai proposing caps on distributor commissions, the stock price has plummeted. The market capitalisation fell from ₹87,290 crore to ₹45,174 crore over the past seven sessions. This decline represents a loss of over 48% during this period. The stock is back at its initial public offering price of ₹980.
Ahead of Market: 10 things that will decide stock market action on Tuesday
Indian equities rebounded on Monday after eight consecutive weekly losses, with Sensex rising 473 points and Nifty gaining 134 points. Softer US jobs data and lower crude prices supported sentiment, though analysts flagged bond yields, currency risks, RBI policy and earnings uncertainty.
Listed startups unlock Rs 25,000 crore for VC, PE investors
An ET analysis of National Stock Exchange (NSE) and BSE block and bulk deal disclosures across 18 new-age companies shows sales by investors including Japan’s SoftBank group and venture capital firms Peak XV Partners, Elevation Capital and Accel.
PB Fintech shares crash 50% from peak, fall below 2021 IPO price. More downside coming?
PB Fintech shares plunged 50% from their all-time high to drop below the 2021 IPO price of Rs 980. The sharp six-day selloff follows proposed IRDAI regulatory curbs on insurance distribution, prompting brokerages like Bernstein and Jefferies to cut target prices amid earnings pressure concerns.
Ahead of Market: 10 things that will decide stock market action on Wednesday
Nifty’s indicative price plunged 2% in two seconds during the closing auction session on monthly expiry, before recovering sharply. Analysts cited crude volatility, high US Treasury yields, FII outflows, IPO fundraising and geopolitical tensions as key market pressures.
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IRDAI’s commission crackdown: Why insurers may cope but distributors face a tougher test
Transformations are on the horizon for India's insurance industry, with new proposals from the Insurance Regulatory and Development Authority of India aiming to streamline product distribution and limit commissions. These changes could lead to lower insurance premiums, but distributors heavily reliant on commissions might struggle. Insurers like SBI Life, known for their efficient low commission rates, may adapt more easily.
Insurance commission revamp to push insurtech firms to the brink
The regulator has proposed lower commission limits for distributors that sell products from several insurers, with sharp cuts across health, term and motor insurance. Shares of PB Fintech fell 36% on Thursday to Rs 1,210 on the BSE, while Turtlemint stock was down 20% at Rs 109.10 to hit its daily lower circuit.The impact could be particularly significant for PB Fintech, the parent of Policybazaar, which lost around Rs 31,000 crore in market cap during Thursday’s trade.
IRDAI's commission reset impact; ETSA winner Progcap’s next bet
Happy Friday! IRDAI's overhaul plan could significantly impact the new-age insurance distribution industry. This and more in today’s ETtech Morning Dispatch.
Stocks in news: Waaree Energies, PB Fintech, Lemon Tree Hotels and Dr Lal PathLabs
Indian equity markets saw significant declines, with the NSE Nifty 50 index dropping by over 380 points. PB Fintech experienced a sharp 36% plunge after regulatory changes. Waaree Energies expanded into the specialty gases business to supply semiconductor manufacturers. Dr Lal PathLabs approved the acquisition of a majority stake in SN Genelab Private Ltd. Several companies, including JSW Cement, faced regulatory scrutiny amid ongoing market fluctuations.
NSE enters India’s mega-IPO club: 2nd-largest issue, 2nd-highest anchor count with 189 investors
NSE’s Rs 22,561.57 crore IPO ranks as India’s second-largest, behind Hyundai Motor India. The exchange attracted 189 anchor investors and raised Rs 6,746.18 crore before opening for public subscription, making it the second-highest in the historical anchor investor comparison.
Motilal Oswal Digital India Fund NAV jumps 10% in five days. What’s driving the rally?
Motilal Oswal Digital India Fund’s NAV rose over 5% in five days, helped by its sizeable ESDS Software holding. The stock’s sharp post-listing rally has boosted the thematic fund, highlighting how concentrated positions can amplify NAV gains and volatility.
ESDS rally sparks 5.19% NAV jump in Motilal Oswal Digital India Fund
A recent IPO listing significantly boosted the Motilal Oswal Digital India Fund's net asset value. ESDS Software's stock more than doubled on its market debut, contributing to the fund's gain. This sharp rise in the fund's NAV is considered rare for diversified equity schemes. The fund manager noted the strong performance of an anchor allocation from the IPO. Future NAV increases are possible as ESDS Software continues its upward trend.
PB Fintech shares in focus after founders sell stake worth Rs 665 crore in Policybazaar parent
PB Fintech founders sold shares worth Rs 665 crore. Yashish Dahiya and Alok Bansal offloaded stock on Friday. Major investors like Goldman Sachs and Morgan Stanley bought these shares. This follows previous stake sales by the founders. PB Fintech reported strong revenue and profit growth for the January-March quarter. The company's stock has seen significant fluctuations since its IPO.
Huge supply of newly-listed co shares to hit D-Street as lock-ins end in Nov
The Securities and Exchange Board of India cut the lock-in period for investors who purchase shares in a pre-IPO issue, or promoters' shareholding in excess of 20%, to six months from one year effective from April this year.
PB Fintech jumps 5% as firm to invest up to Rs 1,000 cr in two subsidiaries
In a statement on Thursday, PB Fintech said the present investments allow both the companies to strengthen their financial health and meet general operating expenses, while enhancing brand awareness, office presence and strategic initiatives.
Morgan Stanley initiates coverage on PB Fintech, FSN E-Commerce
The foreign brokerage has initiated coverage on Policybazaar's parent PB Fintech and FSN E-Commerce Ventures, operator of online cosmetics retailer Nykaa, with 'equal-weight' ratings as valuations reflect the near-term prospects.
Policybazaar shares end nearly 23% higher on market debut
The IPO of PB Fintech, which operates Policybazaar and Paisabazaar, was subscribed 16.59 times last week. The stock listed at a premium of 17.35% to the issue price of Rs 980 per share.
Why IPO-bound fintech startups should have one eye on their US counterparts
While this represents another stellar listing for an Indian tech startup, Policybazaar, Paytm and other IPO-bound fintech firms in India will have one eye on their counterparts in the US.
Is PB Fintech gearing up for a positive surprise? Here's what grey market says
The IPO of PB Fintech has raised some uncomfortable questions over the valuation. That could be why several brokerages have recommended investors to skip this loss-making startup.
Policybazaar IPO allotment likely today: Here's how to check status
Policybazaar IPO received bids for 57,23,84,100 shares against 3,45,12,186 shares on offer, according to NSE data. The price range for the IPO was at Rs 940-980 per share.
Policybazaar's IPO subscribed 16.59 times, Sigachi sees 101x bids
The ₹5,710-crore IPO of PB Fintech, that operates Policybazaar, received bids for 57.24 crore equity shares against an offer size of 3.45 crore shares.
PB Fintech IPO subscribed 16.59 times on Day 3
The PB Fintech IPO received bids for 57.24 crore equity shares against an offer size of 3.45 crore, according to NSE data. The parent firm of Policybazaar and Paisabazaar is likely to list on November 15.
PB Fintech IPO subscribed 9.4 times on last day of bidding
PB Fintech mopped up Rs 2,569.37 crore from 155 anchor investors on Friday, a day ahead of IPO opening.
Policybazaar IPO kicks off: Should you stay away from the issue?
Reliance Securities said Policybazaar IPO is valued at 22.1x FY21 book value and 46x on market cap to FY21 sales, which looks stretched.
PB Fintech covers a growing bazaar, look for a long-term play
PB Fintech, which owns the online insurance policy platform Policybazaar and online lending platform Paisabazaar, plans to raise Rs 3,750 crore through fresh issue of shares and up to Rs 1,960 crore through offer for sale.
Policybazaar parent to continue chasing long-term growth after IPO
Yashish Dahiya, cofounder and chairman of PB Fintech, said 80% of the company’s focus will be on growth and 20% will be on ‘efficiencies’.
Policybazaar IPO is likely to haunt investors in the unlisted market. Here's why
Shares of PB Fintech traded in the unlisted market in the range of Rs 2,000-2,300, just a week ago. However, the official IPO details have left the buyers with sleepless nights, who bought shares at 50-60 per cent premium.
Unlisted shares of Policybazaar's parent rally
The shares in the grey market are now trading around ₹2,000-2,100 apiece from the earlier price of ₹1,800. The grey market IPO premium, however, still remains low at ₹180-200, from a high of ₹700 before it crashed due to fears over a delayed listing.
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