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Blog Detail

IPO Opening - Opportunity to earn bumper before Diwali, 4 IPOs including Policybazaar are opening today

Nov 01, 2021


Before Diwali, investors have a great opportunity to earn bumper. IPOs of 4 companies are opening for subscription today. These include PB Fintech, the parent company of online insurance aggregator PolicyBazaar, Suyog Gurbaxani, SJS Enterprises and Sigachi Industries. These IPOs will close on 3rd November. Policybazaar and Paisabazaar operator PB Fintechs Rs 5,700 crore IPO opens today. In this, fresh shares worth Rs 3,750 crore will be issued while shares worth Rs 1,960 crore will be sold through offer for sale. For this, the price band has been kept at Rs 940-980 per share. A minimum of 15 equity shares can be bid. That is, retail investors will have to bid at least Rs 14,700 for a lot. Bidding can be made for a maximum of 13 lots. 10% of the issue is for retail investors. Policybazaar raised Rs 2,569 crore from 155 anchor investors ahead of the IPO. The company got nearly 40 times the bids in the anchor slot. These included well-known insurance companies like HDFC Life, ICICI Prudential, Bajaj Allianz Life, SBI General Insurance, and Max Life Insurance. In addition, Fidelity, Baillie Gifford, Dragoneer Group, BlackRock and other companies also participated. PB Fintechs existing investors Steadview Capital, Tiger Global and Falcon Edge have doubled their investment in the company through anchor investments.

The Rs 800 crore IPO of S.J.S. Enterprises Limited is also knocking in the primary market today. For this, the price band has been kept from Rs 531 to Rs 542. Retail investors can bid for a minimum of 27 shares. That is, they will have to invest Rs 14,634 for a lot. Ahead of the IPO, the company raised Rs 240 crore from anchor investors on October 29. This is completely OFS i.e. Offer for Sale. In this, promoter Evergraph Holdings Pte Ltd will sell shares worth Rs 710 crore and K A Joseph Rs 90 crore through OFS. IPO of Rs 125.43 crore of Sigachi Industries is also opening on Monday. The price band for this has been fixed at Rs 161-163 per share. The company plans to issue 76.95 lakh shares. The company will use this amount to expand its operations. It is one of the leading manufacturers of cellulose based excipients (MCC) in the country and exports to 41 countries. 60 per cent of its revenue comes from exports. The IPO of Suyog Gurbaxani Funicular Ropeways Ltd is opening today. The company plans to raise Rs 29.50 crore through this. The issue will close on November 8. That is, investors have a full 8 days to bid for this issue. The price for this has been fixed at Rs 45. For this one lot of shares is worth Rs.3,000. The total size of this issue is 3111000 shares.

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