PB Fintech CEO Dahiya and Vice Chairman Bansal have sold a total of 505,000,000 shares or 1.09% stake in the company.
PB Fintech is the parent of the Insurtech platform PolicyBazaar and the Fintech platform Paisabazar.
According to NSE block trading data, Ashish Dahiya offloads a total of 34 lark stocks in two tranches, equivalent to PB Fintech’s 0.74% stake.
Additionally, Alok Bansal sold 165,000 shares or 0.36% holdings in Gurugram-based PB Fintech according to the data.
The total trade was valued around 919.86 crores and around 919.86 crores, which was run at an average price of Rs 1,821.50 each. After the shares were sold, Dahiya’s holdings in PB Fintech fell from 4.31% to 3.57%, while Banansal’s shares went from 1.40% to 1.40% on a bill of 1.40%. And foreign investors.
The entities that purchased the shares are Tata Mutual Fund, Edelweiss Life Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance, and Mumbai-based Subhkam Ventures.
US-based Gisaro Capital Management, Citigroup Global Market Mauritius, Goldman Sachs, Morgan Stanley Asia Singapore, Social General, WFM Asia, Systems 2 Advisor and Hong Kong-based investment manager Viridian AM also purchased stocks in PB Fintech.
PB Fintech’s shares fell 0.53%, setting down to NSE Rs 1,830.
Last May, Dahiya and Bansal sold a 1.8% stake in PB Fintech, which is 1,109 rupees.
In June 2022, Dahiya offloaded around 380,000 shares for Rs 230. In February, Bansal sold stakes in the company for Rs 236,000,000.
PB Fintech announced an initial public offering of Rs 5,710 in November 2021. The company’s co-founders and other shareholders reduced their interest in the public issue.
