PB Fintech Chief Executive Officer Dahiya and Vice Chairman Bansal sold a total of 50.50 lakh shares or 1.09 percent stake in the company.
PB Fintech is parents of Insurtech platform Policy market india And Fintech platform Pisabazar,
According to the block deal data on NSE, Ashish Dahiya staked 0.74 percent stake in PB Fintech, landing a total of 34 lakh shares in two tranches.
In addition, Alok Bansal sold 16.50 lakh shares according to data or 0.36 percent holding in PB Fintech in Gurugram.
The value of the joint transaction was around Rs 919.86 crore, which was executed at an average price of Rs 1,821.50 at an average price. Account saleDahiya’s holding in PB Fintech grew from 4.31 percent to 3.57 percent, and Bansal’s stake increased from 1.40 percent to 1.04 percent. The shares were raised by domestic mutual fund entity, insurance companies and foreign investors.
The stake institutions are Tata Mutual Fund, Edelweiss Life Insurance, HDFC Life InsuranceICICI Prudential Life Insurance, and Subham Ventures in Mumbai.
US-based Ghisalo Capital Management, Citigroup Global Markets Mauritius, Goldman Sachs, Morgan Stanley Asia Singapore, Society Generail, WFM Asia, System two advisors and Hong-Kong-based investment manager Viridian AM also bought shares of PB Fintech.
PB Fintech’s shares fell 0.53 percent on NSE to be organized for Rs 1,830.
In May last year, Dahiya and Bansal divided the 1.8 percent stake in PB Fintech for Rs 1,109 crore.
In June 2022, Dahiya launched about 38 lakh shares of the company for Rs 230 crore. In February, Bansal divided over 28 million shares of the company for Rs 236 crore.
PB Fintech came out in November 2021 with its initial public offer of Rs 5,710 crore. The company’s co-founders and other shareholders reduced their stake in public issues.
