Shares of PB Fintech, which operates online insurance broker Policybazaar and loan marketplace Paisabazaar, are in focus today after Singaporean sovereign wealth fund Temasek Holdings on Thursday offloaded its entire 5.42 per cent stake in PB Fintech for Rs 2,425 crore through open market transactions.
Claymore Investments (Mauritius) Pte Ltd, wholly owned subsidiary of Temasek Holdings sold the shares of PB Fintech in three tranches in a block deal on BSE.
On Thursday, PB Fintech shares ended flat at Rs 996.90. Total 245.97 lakh shares changed hands amounting to a turnover of Rs 2442.21 crore on BSE. Market cap of the firm stood at Rs 44,980 crore.
The large-cap stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. It has risen 24.53 per cent in 2024 and gained 148 per cent in a year.
The stock hit a 52-week high of Rs 1050 on February 1, 2024 and a 52-week low of Rs 390.60 on February 1, 2023.
Claymore Investments (Mauritius) Pte sold a total of 2,44,30,015 shares or 5.42 per cent stake in PB Fintech, according to block deal data.
The shares were sold at an average price of Rs 992.8 apiece, taking the combined deal value to Rs 2,425.41 crore.
On the other hand, US-based financial services company Capital Group, through its various affiliates, bought the shares of PB Fintech in seven tranches.
PB Fintech reported a profit of Rs 37 crore for the third quarter ended December 31,2 023. The Q3 show was led by robust growth in insurance premium and improvement in contributing margins. PB Fintech reported a loss of Rs 21.1 cr in the preceding September quarter. In Q3FY23, the company reported a loss of Rs 87.6 crore.
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