Private life insurers made a beeline to participate in the anchor investor segment of the IPO of PB Fintech, which operates online insurance marketplace Policybazaar and credit comparison portal Paisabazaar.
This reflects the optimism that private life insurers have in the future prospects of the online marketplace model that PB Fintech had adopted, said capital market experts. Eleven insurance companies made a demand of $40 million in the anchor round that took place, sources close to the development said.
