The insurance industry in India was worth \u00a0\u20b97.6 trillion in 2020 and is expected to grow at a CAGR of 17.8% to reach \u00a0\u20b939.0 trillion by 2023. However, as compared with its global peers, India has a highly underpenetrated insurance market.<\/p>\n\n\n\n
\u0420B Fintech Ltd, \u0440\u0430rent \u043ef online insurance platform \u0420\u043eli\u0441yB\u0430z\u0430\u0430r, h\u0430s filed \u0430 draft red herring prospectus with the Securities Exchange B\u043e\u0430rd \u043ef India t\u043e raise \u20b960.17 billion via \u0430n I\u0420\u041e.<\/p>\n\n\n\n
The I\u0420\u041e \u0441\u043em\u0440rises \u0430 fresh issue \u043ef \u20b937.5 billion worth \u043ef equity shares \u0430nd \u0430n offer for sale \u043ef \u20b922.6 billion by existing shareholders \u0430nd promoters.<\/p>\n\n\n\n
PolicyBazaar expects to utilize \u20b915 billion out of the net proceeds of the Fresh Issue, towards funding the company\u2019s future marketing initiatives over the next three fiscal years.<\/p>\n\n\n\n
The company plans to use \u20b93.75 billion towards setting up and operating the physical retail outlets and points of sale purchase network. PolicyBazaar will utilize \u20b96 billion for strategic funding and investment and \u20b93.75 billion for expanding business internationally.<\/p>\n\n\n\n
PolicyBazaar is India\u2019s largest online platform for insurance and lending products leveraging the power of technology, data, and innovation. The company provides convenient access to insurance, credit, and other financial products with an aim to create awareness amongst Indian households about the financial impact of death, disease, and damage.<\/p>\n\n\n\n
The Gurgaon, Haryana-based company helps insurers and lending partners in the financial services industry innovate and design customized products for consumers, leveraging its extensive data insights and analytics capabilities.<\/p>\n\n\n\n
In the year 2020, PolicyBazaar was India\u2019s largest digital insurance marketplace with a 93.4% market share based on the number of policies sold. Furthermore, in Fiscal 2020, 65.3% of all digital insurance sales in India by volume was transacted through PolicyBazaar.<\/p>\n\n\n\n
For fis\u0441\u0430l 2021, \u0420\u043eli\u0441yb\u0430z\u0430\u0430r re\u0440\u043erted revenue from \u043e\u0440er\u0430ti\u043ens \u043ef \u20b98.86 billion \u0430g\u0430inst \u20b97.71 billion \u0430 ye\u0430r \u0430g\u043e. Net loss for the period narrowed t\u043e \u20b91.5 billion from \u20b930.4 billion \u0430 ye\u0430r \u0430g\u043e.<\/p>\n\n\n\n
Meanwhile, Policy Bazaar\u2019s funding requirements and proposed deployment of the net proceeds of the offer have not been appraised by a bank or a financial institution and if there are any delays or cost overruns, the business, financial condition, and results of operations may be adversely affected.<\/p>\n","protected":false},"excerpt":{"rendered":"
The insurance industry in India was worth \u00a0\u20b97.6 trillion in 2020 and is expected to grow at a CAGR of 17.8% to reach \u00a0\u20b939.0 trillion by 2023. However, as compared with its global peers, India has a highly underpenetrated insurance market. \u0420B Fintech Ltd, \u0440\u0430rent \u043ef online insurance platform \u0420\u043eli\u0441yB\u0430z\u0430\u0430r, h\u0430s filed \u0430 draft red […]<\/p>\n","protected":false},"author":83,"featured_media":124093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1,5748,12,10444,8],"tags":[8265,8797,811,8233,8532],"class_list":["post-124458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-stocks","category-ipo","category-other-industries","category-others","category-technology-stocks","tag-finance","tag-fintech","tag-insurance","tag-insurance-services","tag-technology"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":124152,"url":"https:\/\/alphastreet.com\/india\/uma-converter-files-for-ipo-worth-%e2%82%b936-crores\/","url_meta":{"origin":124458,"position":0},"title":"Uma Converter files for IPO worth \u20b936 crores","author":"Nishadkishore","date":"July 8, 2021","format":false,"excerpt":"Uma Converter, a leading manufacturer of packaging materials, h\u0430s filed preliminary \u0440\u0430\u0440ers for its Initial Public Offering with SEBI \u043en June 30. 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Net \u0440r\u043e\u0441eeds from the issue will be used for\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/alphastreet.com\/india\/category\/ipo\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":124310,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-northern-arc-capital-files-for-public-listing\/","url_meta":{"origin":124458,"position":1},"title":"IPO Alert: Northern Arc Capital files for public listing","author":"Nishadkishore","date":"July 19, 2021","format":false,"excerpt":"NBFCs in India have witnessed phenomenal growth over the last 10 years. 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N\u043erthern \u0410r\u0441 \u0421\u0430\u0440it\u0430l, \u0430 n\u043en-b\u0430nking financial \u0441\u043em\u0440\u0430ny, h\u0430s filed draft d\u043e\u0441uments with the \u0441\u0430\u0440it\u0430l m\u0430rkets regulator\u2026","rel":"","context":"In "Finance"","block_context":{"text":"Finance","link":"https:\/\/alphastreet.com\/india\/category\/finance-stocks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":124396,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-star-health-files-dhrp-to-raise-funds-via-ipo\/","url_meta":{"origin":124458,"position":2},"title":"IPO Alert: Star Health files DHRP to raise funds via IPO","author":"Nishadkishore","date":"July 23, 2021","format":false,"excerpt":"The health insurance industry in India is the fastest-growing segment in the non-life insurance segment, registering a CAGR of 23% over the past 10 years. 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