Policybazaar, the country’s largest insurance aggregator, is set to list on the bourses via a ₹4,000 crore initial public offering, which will see it dilute a 15% stake while seeking a valuation of almost $3.5 billion, two people with direct knowledge of the company’s plans said.
Etechaces Marketing and Consulting Pvt. Ltd, the parent of Policybazaar and Paisabazaar, invited proposals from at least eight investment banks for the proposed IPO and will shortlist the merchant bankers for its public offer next month, one of the two people said on the condition of anonymity.
