Goldman Sachs Singapore Pte, Societe Generale, Morgan Stanley Mauritius and Max Life Insurance Company were among the buyers.
While the buyer and sellers were not known immediately, it was earlier reported that SoftBank was looking to offload 5 percent stake in the company
The stake that would be offloaded would be worth Rs 1,000 crore, the report said.
PB Fintech has reported a strong business growth momentum and says profitability is in sight. Moreover, the revised draft regulatory proposals released by IRDAI on November 23 reduces regulatory risks on commission.
In addition to valuation turning reasonable, the company has reported a strong business growth momentum. The revised draft proposals released by the IRDAI on November 23 reduces regulatory risks to commission
European markets extend gains on Fed slowdown hopes. Stoxx600 gained 0.5%, all other key bourses in the Eurozone also ended firmly in the green. In our what’s trending segment, we do a deep dive into internet companies PB Fintech and Paytm. On the technical front, we train the spotlight on Lupin, PNB and Fino Payments Bank.
The Ward Ferry Management-operated fund, in total, has bought 67.75 lakh shares in PB Fintech, which is 1.5 percent of the total paid-up equity.
A daily round-up of the most interesting articles to help jump-start the day.
In Q2, the company’s consolidated loss narrowed to Rs 186.63 crore compared to Rs 204.44 crore loss registered in the same quarter last year
The new-age companies, after having spent some time under greater public scrutiny on listing, there's a clear shift in attitude. From the steps taken to management commentary and operating performance views - one thing looks clear that becoming profitable is at a top priority
The shares were disposed of at an average price of Rs 389.38-Rs 389.44 apiece, taking the transaction value to Rs 522.50 crore.
TPG Growth IV SF Pte Ltd sold 1.08 crore shares in Nykaa at an average price of Rs 186.40 per share, as per the bulk deals data available on the exchanges.
PB Fintech is aiming to deliver Rs 1,000 crore in profits by FY27. The company aims to increase the annual run rate for insurance premiums from Rs 10,000 crore currently to Rs 35,000 crore by FY27.
The company said its revenue from operations for the period jumped 105.11 percent to Rs 573.47 crore against Rs 279.58 crore logged in the corresponding quarter last year.
During the lock-in period, promoters and investors cannot liquidate the pre-IPO securities held by them
In an interview with Moneycontrol, Yashish Dahiya and Alok Bansal said they are focused on the three-to-five-year perspective.
As per Dahiya, public market investors may not fully understand the business but at the same time will be judging the business on a lot more parameters than it was being judged for pre-listing.
Paisabazaar, another subsidiary of PB Fintech, will receive Rs 250 crore for which it will issue shares to the parent. The parent will also infuse Rs 650 crore in PolicyBazaar during the current financial year.
In the last 8 months, the PB Fintech's stock has fallen over 60 percent. The scrip scaled a 52-week high of Rs 1,470 on 17 November 2021 and has been spiraling down since then.
Technically, since its listing, PB Fintech remained in a gradual decline, however, in the last few months the pace of the fall flatten, which is resulting in a positive divergence. It is an indication of the change in the prevailing trend.
PB Fintech, the parent firm of online insurance broker Policybazaar, on Wednesday reported a widening of consolidated loss to Rs 204.33 crore in the first quarter ended June 30, 2022, according to a BSE filing. The company had posted a loss of Rs 110.