The PolicyBazaar IPO is open for subscription between November 1 and November 3, 2021. The price band has been kept between Rs 940-980 per share with a minimum lot size of 15 shares.
The PolicyBazaar IPO allotment status will be finalized around November 10 (tentative).
Here’s how you can check the allotment status:
Once the allotment status is finalized, you can check your status on Groww, if you had applied for this IPO on our platform. Here are the steps:-
Step 1: Open the Groww App, scroll down the homepage to see the ‘IPOs’ section.
Step 2: Click on IPOs. On the next page click on the ‘Status’ tab next to the PolicyBazaar IPO (or any other IPO you had applied for). The status tab will not be visible if you have not applied for the IPO.
Step 3: The next two screens will show a detailed view of your application status.
The registrar for this IPO is Link Intime India Private Limited.
After applying for an IPO, the amount gets blocked for use from your account. Therefore, the money is still showing in your balance but is blocked for use.
If PolicyBazaar IPO is oversubscribed. The shares will be distributed proportionately among investors so each investors receives minimum of one lot. This is done on a lottery basis, so there is no guarantee for receipt of shares. It is possible that few investors do not get any shares at all, in case of oversubscription.
If you don’t get the allotment in the PolicyBazaar IPO, the amount will be unblocked, and you will be able to use the amount in your bank account.
PolicyBazaar IPO shares will get listed on BSE and NSE on November 15, 2021. (tentative)