Yashish Dahiya And Alok Bansal, founder of PB Fintech – the parent of PolicyBazaar – has made quite a few shares They are selling through the Offer for Sale (OFS) component
Initial Public Offering (IPO) to open on Monday. Sources familiar with the matter said that due to rising interest in the tech IPO and further growth in its business as well as potential valuations after the share sale, the founders reduced their OFS by 85-90% by value.

Dahiya, who is also the Chairman and CEO PB FintechI was about to sell my shares worth Rs 250 crore in Policybazaar IPO According to the draft Red Herring Prospectus (DRHP) filed in August. According to the latest red herring prospectus (RHP) filed by the company, he will now sell shares worth Rs 30 crore. Similarly, Bansal, who was also a whole-time director and CFO in the firm, had intended to sell his stake for up to Rs 95 crore, but will now sell shares worth only Rs 13 crore. SoftBank, the largest shareholder with over 15% stake, is selling shares worth Rs 1,875 crore.

“They (the founders) are talking more than anything, with their money, on the company’s growth potential and subsequent commitment IPO Also,” said a person aware of the matter. The listing valuation of Policybazaar’s Rs 5,700 crore IPO is at $6.15 billion. With the abundance of liquidity in global markets and bullish momentum on tech IPOs in India, startups believe that their valuations after listing will be higher as they continue to chase growth.

ET reported last week that
Policybazaar’s anchor investment slot sees 40x demand In terms of bids and major insurance firms have also taken stake in the firm. It raised Rs 2,569 from 155 anchor investors.

“The headroom to grow is huge and it will continue post-IPO. Anchor bids indicate that investors are bullish on the business at present,” said another person aware of the company’s thinking.

According to RHP, Dahiya holds 4.27% in PB Fintech and Bansal 1.45%.

Policybazaar is one of the top tier startups to go public this year, joining the likes of Paytm, Nykaa and Zomato. the latter
Launched Settler in July With an IPO of Rs 9,000 crore. Policybazaar India Ltd. has set a price band of Rs 940-980 per share for the IPO starting Monday and will remain open for subscription till Wednesday.

Apart from the above mentioned startups, logistics startup Delhivery and e-pharmacy
PharmEasy also has a possibility to file its DRHP Go public this month and within fiscal year 2022.