PB Fintech Limited Initial Public Offer to open on November 01, 2021

MUMBAI:
PB Fintech Limited (the “Company”), which have built India’s largest online platform for insurance and lending products leveraging the power of technology, data and innovation, according to Frost & Sullivan, plans to open its Initial Public Offering (the “Offer”) on November 01, 2021.

The Price Band of the Offer has been fixed at ₹940 to ₹980 per Equity Share of face of ₹2 each. Bids can be made for a minimum of 15 Equity Shares and in multiples of 15 Equity Shares thereafter.

The Offer consists equity shares of face value of ₹2 each of PB Fintech Limited comprising a fresh issue of aggregating up to ₹37,500 million (the “Fresh Issue”) and an offer for sale comprising up to ₹18,750 million by SVF Python II (Cayman) Limited (the “Investor Selling shareholder”) and equity shares by certain persons listed in this Red Herring Prospectus (the “Other Selling Shareholders*”).

The Company provides convenient access to insurance, credit and other financial products and aim to create awareness amongst Indian households about the financial impact of death, disease and damage. Through their consumer-centric approach, PB Fintech Limited seek to enable online research-based purchases of insurance and lending products and increase transparency, which enables Consumers to make informed choices. They also facilitate their Insurer and Lending Partners in the financial services industry to innovate and design customised products for Consumers leveraging extensive data insights and data analytics capabilities.

The Net Proceeds from the Fresh Issue are proposed to be utilised for (i) Enhancing visibility and awareness of brands, including but not limited to “Policybazaar” and “Paisabazaar”; (ii)  New opportunities to expand Consumer base including offline presence; (iii) Strategic investments and acquisitions; (iv) Expanding presence outside India; and (v) General corporate purposes.

The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing.

Kotak Mahindra Capital Company Limited^, Morgan Stanley India Company Private Limited^, Citigroup Global Markets India Private Limited, ICICI Securities Limited, HDFC Bank Limited, IIFL Securities Limited and Jefferies India Private Limited are the Book Running Lead Managers to the Offer.

^ Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Private Limited are also acting as the Joint Global Co-ordinators and Book Running Lead Managers.

PB FINTECH LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the RHP with RoC on October 25, 2021.
The RHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com
and www.nseindia.com, respectively, and will be available on the websites of the JGC- BRLMs and BRLMs, i.e. Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Citigroup Global Markets India Private Limited, ICICI Securities Limited, HDFC Bank Limited, IIFL Securities Limited and Jefferies India Private Limited at www.investmentbank.kotak.com and www.morganstanley.com,
www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, www.icicisecurities.com,www.hdfcbank.com, www.iiflcap.com and www.jefferies.com, respectively.

Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section entitled “Risk Factors” beginning on page 39 of the RHP. Potential investors should not rely on the draft red herring prospectus dated July 31, 2021 filed with SEBI for making any investment decision.

The Equity Shares have not been and will not be registered under the U.S. Securities Act or any state securities laws in the United States, and, unless so registered, may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons as defined in Regulation S under the U.S. Securities Act (“U.S. Persons”), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S.

Securities Act and applicable state securities laws in the United States. Our Company has not registered and does not intend to register under the U.S. Investment Company Act in reliance on Section 3(c)(7) of the U.S. Investment Company Act, and investors will not be entitled to the benefits of the U.S. Investment Company Act. Accordingly, the Equity Shares are only being offered and sold (i) to persons in the United States or to or for the account or benefit of, U.S. Persons, in each case that are both “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act) and “qualified purchasers” (as defined under the U.S. Investment Company Act and referred to in this Red Herring Prospectus as “QPs”) in transactions exempt from or not subject to the registration requirements of the U.S. Securities Act and in reliance on Section 3(c)(7) of the U.S. Investment Company Act; or (ii) outside the United States to investors that are not U.S. Persons nor persons acquiring for the account or benefit of U.S. Persons in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur. There will be no public offering in the United States.