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PolicyBazaar Gets Ready to Hit the Road to a New Horizon of Success

PolicyBazaar is ready to hit the highway at full speed and do a stunt or two, making plans and elevating Rs 6,500 crore, now thatu2019s a number no one could ignore. Policybazaar fintech, the figure organization of Policybazaar in a regulatory submitting accepted a decision to elevate the stated number through an equity issue.<br>Follow us for all the latest startup news and Startup Funding News.

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PolicyBazaar Gets Ready to Hit the Road to a New Horizon of Success

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  1. PolicyBazaarGetsReady toHittheRoadtoaNewHorizonofSuccess PolicyBazaarLatestNews PolicyBazaarisreadytohitthehighwayatfullspeedanddoastuntortwo,makingplansandelevatingRs6,500crore,nowthat’sanumbernoonecouldignore.Policybazaarfintech,thefigureorganizationofPolicybazaarinaregulatorysubmittingacceptedadecisiontoelevatethestatednumberthroughanequityissue. TheNewConsiderations TheSoftbank-sponsoredaggregatorofinsurance,initssubmitting,additionallysaidthatasidefromtheissueofthesaidequity,itisabletoadditionallytakeintoaccountasaleofferthatmightbeofbenefitfortheorganization,fromanumberofitsinvestingpartners. Thedecisionbecamesurpassedinanexquisitelyhostedgala-like“Extra-OrdinaryGeneralMeeting” (EGM)heldwiththeaidoftheorganizationonJuly5th,thisyear.TheorganizationhasexpandedtherestrictionoverinvestmentswiththeaidofusingNRIsandOCIsfrom10percentto24percent,inaccordancewiththefilingsoftheIPOrevealedatthemeeting.Ithasadditionallytransformedtheremainingconvertiblepreferencestocksintoequitystocks,thiscorroboratesthePolicyBazaarfundingnewsthathasshockedthewholeIPOmarket.Accordingtothemedia,PolicybazaarismakingplanstopopoutwithanIPOwiththehelpoftheraisedfunding,December2021isbelievedtobethemonthofthebigreveal.

  2. ListinginIndianBourses AfterZomatoandPaytm,Policybazaarmaybethenextnew-agetechbusinesstogetindexedattheIndianboursesin2021andsetanewmilestone.PaytmNewsalsoindicatesthatthebusinessfiledtheDRHP,andintendstoelevateRs16,600croreandthatwillbeanothersky-highnumber. Youmayalsolike:PlaySimple’sTakeoverisaLessonfortheIndianStartupEcosystem RenamingToWelcomeNewPossibilities TheorganizationhasadditionallysurpassedauniquedecisiontorenameitselfasPBFintechLtd,imaginethetimespentontakingsuchadecisionandmakingitconcrete.Also,SoftBankischangingfromaPrivateLimitedcompanytoapublicentity.Foundedin2008byamarvelousentrepreneurYashishDahiya,Policybazaarholdspreciousjewels,itsmarqueeinvestingpartnerslikeTigerGlobal,FalconEdgeCapital,Tencent,andothersthathavekeptthecompanyfloating.Lookingattheearlierpostedreports,thecompanypublishedthattheyhadlostRs218croreinthefinancialyear2020,ascomparedtoalossofRs213inthefinancialyear2019.TheorganizationcurrentlyobtainedalicensefromtheIRDAItobrokerinsurancesandishopingtomakeacomebackafterallthelossesitsufferedoverthepastfewyears. FollowusforallthelateststartupnewsandStartupFundingNews.

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