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.
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