Three Insurance Companies To Release IPOs Soon; This Year Firms Have Raised Over Rs 70,000 Crore Through IPOs

Mumbai, 23rd August 2021: Three different insurance companies will enter the market in the coming months and will raise over Rs 10,000 crore through IPOs. PB Fintech, which runs Policybazaar, Star Health and Allied Insurance Company and Medi Assist Healthcare Services, will raise this amount through IPO. These three companies have already sent the draft related to the IPO to the market regulator SEBI. Rakesh Jhunjhunwala has invested in Star Health.

So far this year, more than 40 companies have raised more than Rs 70,000 crore through IPO. Of this, four companies were listed in August alone, while the fifth IPO of Nuvoco Vistas Corp will be listed on Monday. So far this month, 24 more companies have filed their IPOs and these companies are expected to raise over Rs 4,000 crore. Investment bankers are expecting over 100 IPOs to hit the market this year.

Investment bankers are waiting for over 100 issues this year. Thus, this year is going to be the best for IPOs. Policybazaar’s parent company PB Fintech will raise Rs 6,017 crore. Thus, it will be the second biggest IPO of the year. Earlier last month, food delivery platform Zomato had an IPO of Rs 9,375 crore. PB Fintech’s investors include Tiger Global and Tencent Holdings.