PB Fintech Limited (Policy Bazaar) IPO Details

Policy Bazaar IPO: Key Details

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Company Information

PB Fintech Limited, incorporated in 2008, is India’s largest online platform for insurance and lending products leveraging the power of technology, data, and innovation (Source: Frost & Sullivan). They provide convenient access to insurance, credit, and other financial products and aim to create awareness amongst Indian households about the financial impact of death, disease, and damage.

They seek to enable online research-based purchases of insurance and lending products and increase
transparency, which enables consumers to make informed choices. They also facilitate Insurer and
Lending Partners in the financial services industry to innovate and design customized products for
consumers leverage the extensive data insights and data analytics capabilities.

Competitive Strengths

• Consumer-friendly brands offering wide choice, transparency and convenience
• Proprietary technology, data and intelligence stack
• Collaborative partner for Insurer and Lending Partners
• Scale gives self-reinforcing flywheels and strong network effects
• High renewal rates providing clear visibility into future business and delivering superior
  economics
• Benefits from economies of segmentation
• Low operating costs and capital requirements
• Founders with clarity of purpose backed by experienced management

Company Strategy

• Broaden and deepen consumer reach in India
• Expand playbook to replicate platform for SME and corporate clients
• Continue to invest in the brands
• Neo-lending strategy to cover innovation and segment gaps
• Continue to invest in digital and technology infrastructure
• Pursue strategic investments and acquisitions to enhance product and service capabilities
• Pursue international expansions

Proceeds from Policy Bazaar IPO will be used to:

• Enhancing visibility and awareness of brands, including but not limited to “Policybazaar” and “Paisabazaar”;
• New opportunities to expand Consumer base including offline presence;
• Strategic investments and acquisitions;
• Expanding presence outside India; and
• General corporate purposes

Policy Bazaar IPO: Financials

Policy Bazaar IPO: Comparison with listed industry peers

According to the RHP, the company does not have any comparable listed industry peers in India

Policy Bazaar IPO: Risks

• Company has a history of losses and anticipate increased expenses in the future.
• They operate in dynamic and competitive online fintech industries, which makes it difficult to predict future prospects.
• One of theobjects of the Offer is to undertake investments in enhancing visibility and awareness of brands, “Policybazaar” and “Paisabazaar”. The manner in which such expenditure or investment will be made, or the outcome of such expenditure or investment, is not ascertainable at this stage.
• They may not be able to ensure the accuracy and completeness of product information and the effectiveness of recommendation of insurance products on the platform

For complete internal and external risk factors, you can refer to the RHP of the company.

Policy Bazaar IPO: Registrar and Lead Managers