PB Fintech Limited the holding company for Policy Bazaar which had tapped the capital markets with its fresh issue of Rs 3,750 crs and an offer for sale of Rs 1,933.50 crs and an offer for sale of 2,67,500 shares was subscribed 17.86 times. The price band was Rs 940-980 and at the top end of the price band the issue has garnered Rs 5,709.71 crs. The share had a decent listing on day one and gained 22.74% on day one.
The discovered price on BSE was Rs 1,150 at which price 2,95,981 shares were traded. On NSE, the discovered price was Rs 1,150 at which price 78,75,640 shares were traded. Approximately 81.70 lac shares were traded at the discovered price on the two exchanges combined.
The issue had opened on Monday the 1st of November and closed on Wednesday the 3rd of November.
The company had earlier allotted 2,62,18,079 equity shares to 155 entities. The company within this number allotted 33.53% of the shares to 18 domestic funds comprising of 69 entities. New World Fund was allotted the highest allocation at 14,82,435 equity shares comprising of 5.65% of the anchor book.
The QIB portion was subscribed 27.52 times, HNI portion was subscribed 8.15 times and Retail portion was subscribed 3.45 times. There were 10,95,622 applications and on basis of lots, the retail portion was subscribed 2.82 times.
The high of the day on BSE was Rs 1,249, the low was Rs 1,145 and the close was Rs 1,202.90. The gain was Rs 222.90 or 22.74%. On NSE, the high of the day was Rs 1,248.90, low was Rs 1,149 and the close was Rs 1,202.30 a gain of Rs 222.30 or 22.68%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 1150.00 | 1249.00 | 1145.00 | 1202.90 | 222.90 | 22.74 | 1186.91 | 1293088 | 683128 | 52.83 |
| NSE | 1150.00 | 1248.90 | 1149.00 | 1202.30 | 222.30 | 22.68 | 1190.99 | 36379065 | 21649833 | 59.51 |
| Total | 37672153 | 22332961 | 59.28 |
The traded volume on the two exchanges combined was 376.72 lac shares which was 0.65 times the IPO size of 582.62 lac shares and 1.18 times the non-anchor portion of 320.44 lac shares. Delivery volume was 223.32 lac shares which was 59.28% of the traded volume. It was 38.33% of the issue size and 69.69% of the non-anchor portion. The weighted average of the day’s trade was Rs 1,186.91 on BSE and Rs 1,190.99 on NSE.
In terms of institutional or bulk trade, just one buy trade was reported on NSE. Capital Research and Management Co bought 34,18,354 shares at Rs 1,192.96.
The issue has performed reasonably well and has ended with decent gains for all investors. Going forward, one would like to see which way the share goes. This would be the third of the large platform-based companies which have listed and investors would like to see how such companies perform.
