PB Fintech Limited’s $766 Million Initial Public Offering

Shardul Amarchand Mangaldas and Latham & Watkins advised PB Fintech Limited on the offering.

PB Fintech Limited executed a US$766 million (approx.) initial public offering. Policybazaar, the flagship platform of PB Fintech Limited. The IPO comprised a fresh issue of equity shares and an offer for sale by SVF Python II (Cayman) Limited (Softbank), the founders and other selling shareholders of the issuer company. 

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Citigroup Global Markets India Private Limited, HDFC Bank Limited, ICICI Securities Limited, IIFL Securities Limited and Jefferies India Private Limited acted as Book Running Lead Managers.

PB Fintech owns and operates one of India’s largest online insurance marketplace, Policybazaar, as well as online consumer credit marketplace, Paisabazaar.

The Shardul Amarchand Mangaldas & Co team was led by Partner and National Practice Head – Capital Markets Prashant Gupta (Picture); Ruth Chenchiah, Principal Associate; Sanjeev Chowdhary, Associate; Oindree Bandyopadhyay, Associate; and Rudresh Mandal, Associate.

The Latham team was led by Singapore partner Rajiv Gupta with associate Sabrina Singh. Advice on tax matters was provided by New York partner Jiyeon Lee-Lim and Chicago partner Rene de Vera, with New York associate Sam Yang. Chicago partner Nabil Sabki with associate John Reinert also advised on the transaction.

Involved fees earner: Enrique Rene de Vera – Latham & Watkins; Rajiv Gupta – Latham & Watkins; Jiyeon Lee-Lim – Latham & Watkins; John Reinert – Latham & Watkins; Nabil Sabki – Latham & Watkins; Sabrina Singh – Latham & Watkins; Sam Yang – Latham & Watkins; Oindree Bandyopadhyay – Shardul Amarchand & Mangaldas & Co.; Sanjeev Chowdhary – Shardul Amarchand & Mangaldas & Co.; Prashant Gupta – Shardul Amarchand & Mangaldas & Co.; Rudresh Mandal – Shardul Amarchand & Mangaldas & Co.; Ruth Chenchiah – Shardul Amarchand Mangaldas & Co;

Law Firms: Latham & Watkins; Shardul Amarchand & Mangaldas & Co.; Shardul Amarchand Mangaldas & Co;

Clients: PB Fintech Limited ;