Temasek Holdings, PB Fintech exits… Sale of entire 5.42% stake for Rs 2,425 crore.
Claymore Investments (Mauritius) Pte sold a total of 24,430,015 shares, representing a 5.42% stake in PB Fintech, according to Block Deal data.
The shares were sold at an average price of Rs 992.8 each, taking the total transaction value to Rs 2,425.41 crore.
Meanwhile, Capital Group, an American financial services company, acquired shares of PB Fintech in seven installments through various affiliates.
Shares of PB Fintech closed 0.59 per cent lower at Rs 996.90 on the BSE. PB Fintech was co-founded by Yashish Dahiya and Alok Bansal in 2008. The company operates Policy Bazaar, an online insurance information provider, and Paisabazaar, a credit comparison portal. The company debuted on the public markets in November 2021.
In a regulatory filing on Tuesday, PB Fintech Ltd reported net profit for the first time. For the third quarter ended December 31, 2023, profit after tax was Rs 37.2 crore. In the corresponding quarter last year, PB Fintech had posted a net loss of Rs 87.6 crore. Operating revenue grew 42.7 per cent to Rs 870.9 crore compared to Rs 610.1 crore in the corresponding period of the previous fiscal.
Last month, Svf Python II (Cayman), a unit of Japanese conglomerate Softbank, sold a 2.5% stake in PB Fintech for Rs 914 crore.
(You can now subscribe to ETMarkets WhatsApp channel)
Download the Economic Times news app to get daily market updates and real-time business news.
Subscribe to The Economic Times Prime and read Economic Times ePaper Online and Sensex Today.
Top trending stocks: SBI stock price, Axis Bank stock price, HDFC Bank stock price, Infosys stock price, Wipro stock price, NTPC stock price.
