The shares of India’s largest online insurance platform marginally declined from its previous closing price after Foreign Institutional Investors likely sold 2.5 percent stake in the block deal.
At 12:00 p.m the shares of PB Fintech were trading at Rs. 765 down by 0.20 percent from its previous day close price and the market capitalization of the company is 34,436 Cr.
As per the reports, Softbank was earlier holding 4.39 percent stake in PB Fintech, but today on October 6, 2023 it has likely sold 2.54 percent stake i.e. 1.14 crore shares worth 876Cr through a block deal, thereby reducing its stake in the company to 1.85 percent.
The company’s revenue has increased by 79.51 percent from 1,424.89 Cr in FY22 to 2,557.85 in FY23, accompanied by decreasing losses of 832.91 Cr to 487.94 Cr, even though the company is making good revenue it is not able to generate profits due to very high operating expenditure that exceeds its generating revenue.
The company has reported a return on equity (ROE) of -10.15 percent and return on capital employed (ROCE) of -8.57 percent, the company has negative profitability ratios as it is not able to generate profits from the last five years.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 0.00 percent stake, the Domestic Institutional Investors hold 20.77 percent and the Foreign Institutional Investors (FII) hold 44.17 percent.
PB Fintech Limited, popularly known as Policy Bazar is India’s largest online platform for insurance and lending products through its flagship brands – Policybazaar and Paisabazaar platform through which they provide convenient access to insurance, credit and other financial products.
Written by: Bharath K.S
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