Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of US$3.5 billion, potentially becoming the first of India’s mega-startups to debut as its digital economy booms.
The startup plans to secure about US$250 million in a round of financing at a US$2 billion-plus valuation before a September 2021 initial public offering, co-founder Yashish Dahiya told Bloomberg News. Policybazaar is now selecting two to three IPO lead underwriters from a roster that includes several Wall Street banks, said Mr Dahiya, chief executive officer of Policybazaar parent ETech Aces Marketing and Consulting.
“We have global interest and will raise in the coming weeks,” Mr Dahiya said from London, where he is currently based.
Read more at Business Times.