PB Fintech shares extended losses to nearly 10 percent in the last two trading sessions after the company's proposal to infuse Rs 696 crore in its healthcare arm failed to cheer investors.
Shares of PB Fintech Ltd declined 5.13 percent to an intraday low of Rs 1,333.5 per share on the NSE. The stock has been declining for the last two trading sessions. On Wednesday, the stock ended 4.31 percent lower. In volume terms, 28.06 lakh equity shares of PB Fintech were traded on the NSE till 11:40 AM.
On Tuesday, PB Fintech said it proposes to infuse Rs 696 crore in its wholly owned subsidiary PB Healthcare Services in the next financial year to grow its business.
Nilesh Shah, Envision Capital told CNBC-TV18, "Don't see PBFintech foray into healthcare as capital misallocation."
The board approved a proposal to make an investment for an aggregate amount of up to Rs 696 crore in PB Healthcare Services, by way of subscribing or purchasing its shares or compulsory convertible preference shares during the 2025-26 financial year, PB Fintech Ltd said in a regulatory filing.
It further said the capital infusion would be done to meet its general operating expenses and enhance brand awareness, office presence and strategic initiatives.
PB Healthcare Services was incorporated in January 2025 to carry on the business of healthcare and allied services in India.
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