P.B Fintech, the parent company of Policybazaar and Paisabazaar, went for listing today as its shares soared 22% on their market debut.
P.B. Fintech is the third fintech startup after Paytm and Fino Payments which have listed on the public market. The founders and top employees of PB Fintech will be making a total of INR 3,435 Cr through their shareholding or vested stock options.
The top eight managerial employees, including the cofounders hold 2,76,73,500 equity shares (excluding the OFS and the employee stock option programme (ESOPs).
Here are the top eight people who will be making a fortune out of the IPO:
Yashish Dahiya, the chairman, executive director and chief executive officer of Policybazaar and also the cofounder of the PB Fintech holds 17,54,5000 equity shares, as per the RHP. However, Dahiya had offloaded shares worth INR 30 Cr i.e. 3,06,122 equity shares.
At present Dahiya holds 1,72,38,878 equity shares, and when we multiply this with the price at which PB Fintech’s shares closed on its listing day – INR 1,202.90, then Dahiya’s equity shares will be worth INR 2,073 Cr.
Alok Bansal, who is the cofounder and CFO of Policybazaar holds a total of 59,58,500 equity shares. However, during the IPO, Bansal offloaded a total share worth INR 12.7 Cr which is 1,30,102 equity shares. Now Bansal holds a total of 58,28,398 equity shares. If we calculate the worth of Bansal’s remaining shares, it will be 58,28,398 * INR 1,202.90 = INR 701 Cr.
Naveen Kukreja, cofounder and CEO of Paisabazaar holds 2,487,500 which are currently worth INR 299.2 Cr.
Manoj Sharma, director finance and principal officer of Policybazaar, who has an outstanding ESOP options of 22,500, if converted into equity shares at 1:1 ratio and added with the equity shares held by him (860,000) will be 8,82,500 equity shares. The value of total equity shares held by Sharma would be INR 106 Cr.
Policybazaar CEO and president Sarbvir Singh has 537,500 ESOP options. If converted into equity shares, it would be worth INR 64.6 Cr.
The fintech giant’s chief operating officer Sharat Dhalli has an outstanding 500,000 ESOP options. If he converts his options into equity shares, it will be worth INR 60 Cr.
Saurabh Tiwari, CTO, Policybazaar, has equity share of 812,500 along with ESOP options 192,500. The value of his total equity shares, including ESOP options, would be INR 120.8 Cr.
The group head of legal and compliance in PB Fintech – Deepti Rustagi, holds 10,000 equity shares along with 72,500 outstanding ESOP options. The total valuation of her equity shares, including the ESOP options, would be INR 9.9 Cr.