PB Fintech Limited has filed its quarterly monitoring agency report for Q3FY26, detailing the utilization of proceeds from its initial public offering (IPO) for the quarter ended December 31, 2025. The report, mandated under Regulation 32 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015, was prepared by ICICI Bank Limited serving as the monitoring agency.

IPO Proceeds Utilization Overview

The company's IPO, conducted from November 1-3, 2021, raised ₹57,097.15 million through equity shares. After revisions and finalization of expenses, the total proceeds allocated for specific objects amount to ₹36,126.85 million.

Object-wise Fund Allocation and Progress

The monitoring agency report reveals the current status across all five stated objects of the IPO:

The company has fully utilized funds allocated for brand enhancement, strategic investments, and general corporate purposes. The remaining unutilized amount of ₹2,211.28 million is primarily from growth initiatives (₹1,902.07 million) and international expansion (₹309.21 million).

Object Modifications and Timeline Extension

During the quarter ended March 31, 2025, PB Fintech altered its IPO objects and extended the utilization timeline to March 31, 2026, through a special resolution approved via postal ballot. The modifications included reallocating ₹4,235.19 million from strategic investments and international expansion towards growth initiatives to expand the consumer base including offline presence.

Deployment of Unutilized Proceeds

The unutilized IPO proceeds of ₹2,211.28 million have been invested in fixed deposits with scheduled commercial banks:

Compliance and Monitoring Agency Assessment

ICICI Bank Limited, as the monitoring agency, confirmed that all utilization aligns with disclosures in the offer document. The agency reported no deviations from the stated objects, no changes in means of finance, and no unfavorable events affecting object viability. All required government and statutory approvals related to the objects have been obtained.

General Corporate Purposes Utilization

The ₹7,626.85 million allocated for general corporate purposes has been fully utilized, primarily for salary expenses (₹7,613.79 million) and rent expenses for call centers and non-retail operations (₹13.06 million). This represents complete deployment of funds designated for operational requirements.

The monitoring agency report confirms PB Fintech's adherence to regulatory requirements and proper utilization of IPO proceeds in accordance with stated objectives, with the remaining funds securely invested until deployment.

PB Fintech Limited has announced a board meeting scheduled for February 5, 2026, to deliberate on a strategic fund raising initiative through Qualified Institutions Placement (QIP). The company filed this intimation with stock exchanges on February 2, 2026, under Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Strategic Growth Initiative

The Board of Directors, during their meeting held on February 2, 2026, acknowledged the company's robust organic growth trajectory over the years. The board discussed the strategic approach to complement this growth by selectively pursuing inorganic opportunities across local and international markets through various channels including strategic investments, acquisitions, and partnerships.

Fund Raise Details

The upcoming board meeting will focus on considering and approving the fund raise through equity share issuance via QIP to eligible investors. This capital raising initiative is subject to shareholders' approval and any other regulatory approvals that may be required.

Utilization of Proceeds

The company has outlined that the proceeds from the proposed capital raise will be utilized for pursuing the strategic expansion through inorganic opportunities. However, PB Fintech has clarified that it has not identified any specific target for acquisition or investment at this time.

Regulatory Compliance

The disclosure has been made in compliance with SEBI regulations and will be hosted on the company's official website at www.pbfintech.in . The company operates under the brand names Policybazaar.com, Paisabazaar.com, QuickFIXcars, and doc:prime, maintaining its registered office at Plot No. 119, Sector-44, Gurugram-122001, Haryana.

This strategic move reflects the company's commitment to expanding its market presence and exploring growth opportunities beyond its current organic expansion trajectory.