PB Fintech Ltd’s shares are the parent company of Policybazaar, hit a new low of Rs 1,085.90, down 4 per cent on the BSE in Monday’s intra-day trade as the mandatory one-month lock-in period for anchor investors expired today, December 13, 2021. The stock has fallen below its previous low of Rs 1,120 touched on December 10, 2021.

With today’s fall, the stock has corrected 26 per cent from its all-time high of Rs 1,470 hit on November 17, 2021. PB Fintech had made a stock market debut on November 15, 2021. The company raised Rs 5,625 crore by issuing shares at Rs 980 per share.

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PB Fintech had raised Rs 2,569 crore through allocation to anchor investors, issued 26.22 million equity shares at Rs 980 apiece. Total 33.5 per cent of the total allocation to anchor investors were made to 18 domestic mutual funds through 69 mutual fund schemes. Policybazaar is India’s largest digital insurance marketplace, market share as of FY20 was 93.4 per cent, based on the number of policies sold through online insurance distribution platforms. It has partnered with 48 insurers and has 51.1 million registered consumers on its platform. It has sold 20.7 million policies on its platform and has 10 million unique transacting customers.