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SoftBank to sell 5% stake in Policybazaar via block deal today

The stake that would be offloaded would be worth Rs 1,000 crore, the report said.

December 02, 2022 / 06:42 AM IST
Currently, SoftBank holds around a 10 percent stake in Policybazaar

Currently, SoftBank holds around a 10 percent stake in Policybazaar

 
 
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SoftBank is likely to sell a 5 percent stake in PB Fintech, the parent company of Policybazaar, via a block deal on December 2, CNBC Awaaz reported on December 1, citing sources.

The stake that would be offloaded would be worth Rs 1,000 crore, the report said.

The base price for the block deal is Rs 440 per share, the report added.

Currently, SoftBank holds around a 10 percent stake in Policybazaar. Hence, post the deal, SoftBank will have a 5 percent stake in the company.