Policybazaar IPO Opens To Poor Response, Subscribes Only 0.54 Times

The Policybazaar IPO subscribed barely 0.54 times on the first day

The much awaited initial public order (IPO) of PB Fintech's Policybazaar made an underwhelming debut, as it opened to weak subscriptions on Monday, November 1.

The Policybazaar IPO subscribed barely 0.54 times on the first day.

Subscriptions for it were led by retail individual investors (RIIs), as they bid for it 1.18 times. The retail portion saw bidding of 71,70,180 shares against 60,73,026 allotted.

After RIIs, qualified institutional buyers (QIBs) with 0.56 times bidding and non-institutional investors (NIIs) with 0.06 times bidding, were the other bidders for the IPO.