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 officially canceled its board meeting scheduled for February 5, 2026, that was intended to discuss a potential Qualified Institutions Placement (QIP) fund raising initiative. The company formally communicated this cancellation to stock exchanges through a regulatory filing under Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Official Communication Details

The company addressed its cancellation notice to both National Stock Exchange of India Limited and BSE Limited, confirming the meeting cancellation that was originally scheduled to deliberate on the QIP proposal. Company Secretary and Compliance Officer Bhasker Joshi signed the official communication, which was digitally executed on February 5, 2026.

Regulatory Compliance

The cancellation follows the company's earlier intimation dated February 2, 2026, demonstrating adherence to regulatory disclosure requirements. PB Fintech confirmed that the cancellation notice has been hosted on the company's official website at www.pbfintech.in , ensuring transparency with stakeholders and regulatory compliance.

Strategic Context

This development represents a shift from the company's previously announced plans to consider fund raising through equity share issuance via QIP to eligible investors. The canceled meeting was part of the company's strategic evaluation process for potential capital raising initiatives that would have required shareholders' approval and regulatory clearances.

PB Fintech continues to operate its established portfolio of brands including Policybazaar.com, Paisabazaar.com, QuickFIXcars, and doc:prime from its registered office in Gurugram, Haryana.