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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank : backed Indian insurance startup Policybazaar files for $810 mln IPO

08/02/2021 | 01:22am EDT

BENGALURU, Aug 2 (Reuters) - SoftBank Group-backed online insurance aggregator Policybazaar has filed for an initial public offering of up to 60.18 billion rupees ($809.36 million), joining a string of Indian startups that have tapped capital markets in recent months.

Indian food-delivery firm Zomato had a stellar public debut last month, while fintech firm Paytm has filed for a listing as markets hover at record highs and cash-laden investors hunt for firms likely to benefit in the post-pandemic world.

PB Fintech Ltd, Policybazaar's parent, will issue new shares worth 37.5 billion rupees and existing investors will offload shares worth 22.68 billion rupees in the offering, a draft prospectus showed https://www.investmentbank.kotak.com/downloads/pb-fintech-limited-DRHP.pdf on Monday.

SoftBank unit SVF Python II (Cayman) Ltd is selling 18.75 billion rupees of shares.

Launched in 2008, Policybazaar is an online platform for customers and insurer partners to buy and sell products.

The company said it would use the proceeds of the IPO to build its brand, develop an offline presence, and make investments and acquisitions.

Policybazaar is also targeting a pre-IPO issue of shares worth 7.5 billion rupees, and will cut the size of the offering's fresh issue component if the placement is completed.

Kotak Mahindra Capital, Morgan Stanley, Citigroup Global Markets India, ICICI Securities, HDFC Bank, IIFL Securities and Jefferies India are the book running lead managers for the IPO. ($1 = 74.3550 Indian rupees) (Reporting by Chris Thomas in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SOFTBANK GROUP CORP. 1.82% 6661 End-of-day quote.-17.34%
ZOMATO LIMITED -2.65% 134.25 End-of-day quote.0.00%
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 040 B 55 195 M 55 195 M
Net income 2022 1 310 B 11 969 M 11 969 M
Net Debt 2022 14 983 B 137 B 137 B
P/E ratio 2022 9,15x
Yield 2022 0,66%
Capitalization 11 411 B 104 B 104 B
EV / Sales 2022 4,37x
EV / Sales 2023 4,14x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 6 661,00 JPY
Average target price 10 507,87 JPY
Spread / Average Target 57,8%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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