PolicyBazaar Founders to cut down sale of own shares
- ByStartupStory | November 1, 2021
The co-founders of PolicyBazaar, Yashish Dahiya and Alok Bansal have considerable reduced the number of shares they are selling through Offer for Sale component of their IPO which all set to release on Monday.
The increased interest in tech IPOs along with space for further growth in business as well as likely increase in valuation post sale of shares have been cited as the key reasons for reduction in the shares offered.
The founders have reduced their share offering by a marginal 80-90% ahead of its IPO. While Dahiya has reduced his share offering from Rs. 250 crore to Rs. 30 crore, Bansal has reduced the share offering from Rs. 95 crores to Rs. 13 crores.
Policybazaar is a leading online platform which enables individuals to procure insurance at affordable prices. It is India’s foremost insurance aggregator and leading FinTech player.
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