Policybazaar eyes $3.5-billion valuation in Sept 2021 IPO

Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of $3.5 billion, potentially becoming the first of India’s megastart-ups to debut as its digital economy booms.

The start-up plans to secure about $250 million in a round of financing at a $2 billion-plus valuation before a September 2021 initial public offering, cofounder Yashish Dahiya told. Policybazaar is now selecting two to three IPO lead underwriters from a roster that includes several Wall Street banks, said Dahiya, chief executive officer of Policybazaar parent Etech Aces Marketing and Consulting.