PB Fintech, parent firm of the digital insurance platform Policybazaar, on April 9 announced that it has incorporated its wholly-owned subsidiary PB Pay Private Limited.
"In furtherance to our earlier communication dated March 20, 2024 and pursuant to Regulation 30 read with Schedule III of SEBI Listing Regulations, we hereby inform that a wholly-owned subsidiary of the Company by the name of “PB Pay Private Limited” has been incorporated vide Certificate of Incorporation issued by Registrar of Companies, Central Registration Centre, Ministry of Corporate Affairs dated April 09, 2024," the company said in an exchange filing.
Last month, the promoter of PB Fintech had approved the incorporation. PB Pay was created to conduct the business of payment aggregator with a paid-up capital of Rs 27 crore.
The share price of PB Fintech recorded an increase of 1.44 percent to Rs 1,304.35 on April 9.
Earlier in the day, the insurance tech company had also announced a partnership with ICICI Lombard to provide insurance solutions to 1 crore customers.
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