PB Fintech Plans QIP Fundraise to Support Overseas Growth Strategy
The company plans to deploy the proceeds to finance acquisitions and partnerships in India and overseas markets.
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PB Fintech Ltd, the parent company of Policybazaar, said on Monday that it will hold a board meeting on February 5 to consider and approve a fundraising proposal intended to support its global expansion plans.
The company plans to raise capital through a Qualified Institutions Placement, or QIP, and deploy the proceeds to finance acquisitions and partnerships in India and overseas markets. While no specific targets have been identified yet, the company said the funds would be used to pursue inorganic growth opportunities.
The announcement comes amid strong performance from PB Fintech’s operations in the United Arab Emirates. Its Policybazaar.ae platform recorded 62 percent year on year growth in premiums during the December quarter and has reported profits for four consecutive quarters, indicating improving scale and operational stability.
CEO Yashish Dahiya said the company holds more than 93 percent market share in India’s online insurance distribution segment and aims to replicate its technology led operating model in select international markets. In the UAE, the business is focused mainly on health and life insurance, including cross border products catering to expatriates and Indian customers.
PB Fintech expects potential overseas acquisitions to offer cost synergies and integration benefits. Dahiya said India provides advantages in technology, finance, processes and product development, particularly in health insurance, where the company has built significant expertise over the years.
The strategy involves using India’s talent base and digital capabilities to strengthen acquired businesses in their local markets, while also incorporating learnings from those entities. At the same time, the company plans to adopt a cautious approach to expansion.
According to Dahiya, PB Fintech is evaluating large and relatively stable markets where it believes it can add value without taking excessive risk. He cited the United Kingdom as a familiar market, while noting that countries such as Indonesia would be more challenging due to limited local understanding.
Domestically, the firm continues expanding its hybrid distribution network across Indian cities nationwide.
PB Fintech Ltd, the parent company of Policybazaar, said on Monday that it will hold a board meeting on February 5 to consider and approve a fundraising proposal intended to support its global expansion plans.
The company plans to raise capital through a Qualified Institutions Placement, or QIP, and deploy the proceeds to finance acquisitions and partnerships in India and overseas markets. While no specific targets have been identified yet, the company said the funds would be used to pursue inorganic growth opportunities.
The announcement comes amid strong performance from PB Fintech’s operations in the United Arab Emirates. Its Policybazaar.ae platform recorded 62 percent year on year growth in premiums during the December quarter and has reported profits for four consecutive quarters, indicating improving scale and operational stability.
