Tag: fintech

As the recently listed stocks were hammered today(24 January 2022) amid a heavy sell-off in the markets the S&P BSE IPO index plunged 8 percent. The stock markets were under selling pressure for the fifth straight trading session owing to weak global cues on rising concerns about inflationary pressures, surging coronavirus cases, and prospects of interest rate hikes. Zomato, FSN E-Commerce Ventures (Nykaa), C E Info Systems (MapmyIndia), and PB Fintech, the parent company of Policybazaar were down up to 20 percent in intra-day trade so far. All these stocks hit their respective all-time lows since their listing on the stock market. Latent View Analytics, Go Fashion (India), Chemplast Sanmar, Macrotech Developers (Lodha), CMS Info Systems, Sona BLW Precision Forgings and Devyani International slipped between 8 per cent and 10 per cent on the BSE. Read more

Shares of PB Fintech, the parent company of Policybazaar, rallied another 16 percent to Rs 1,397 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade after a strong market debut on Monday. With today’s rally, the stock has surged 43 percent against its issue price of Rs 980 per share. The stock listed at 17.35% premium on the BSE and hit an intraday high of Rs 1,249.00, The initial share sale was oversubscribed nearly 17 times. A sharp rally in the market price of the company has helped PB Fintech enter the top-100 most valuable companies in terms of market capitalization with a market cap of Rs 60,842 crore and stood at the 95th position overall market-cap ranking, the BSE data showed. The company is a leading Fintech firm that aims to enhance its visibility and awareness along with increasing its customer base which is expected to be beneficial for the company. Read more

With shares listed at Rs 1,150, a 17 percent premium over its issue price of Rs 980 per share on the BSE PB Fintech, the parent company of Policybazaar, made a good stock market debut. Post listing, the stock moved higher to Rs 1,194.95, a 22 percent premium to its issue price. At 10:02 am; PB Fintech was trading at Rs 1,185, up 3 percent from its opening level on the BSE. In comparison, the S&P BSE Sensex was up 0.40 percent at 60,928. Around 468,000 equity shares changed hands at the counter on the NSE and BSE. The Initial Public Offering (IPO) of PB Fintech had received a good response with the issue subscribed nearly 16.59 times. The institutional portion was subscribed 24.89 times; the wealthy investor portion by 7.82 times and the retail investor portion 3.31 times, data shows. The IPO consisted of a fresh issue to raise Rs 3,750 crore and an offer for the sale of shares worth Rs 1,960 crore by existing shareholders. Read more