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SoftBank Looking to Back Insurance Aggregator PolicyBazaar
January 29, 2018
At a valuation of $800 million, leading insurance aggregator PolicyBazaar is sought after by SoftBank Group Corp for a major investment. Discussions regarding the same are already ongoing.
The Japanese multinational telecom corporation is trying to work out an arrangement under which it can invest in PolicyBazaar but without violating the government’s FDI rule that disallows any foreign company to buy more than 49% of the equity in an Indian company.
The sources, however, also said that even as the discussions are going on, they may or may not result in an actual agreement or partnership.
