On Friday, the share price of 3.4% to its intraday low of ₹962.8 per share from its previous close of ₹996.90 after the company share was sold by the Singapore-based sovereign wealth fund.
According to block deal data, Temasek Holdings, a Singapore-based sovereign wealth fund, sold its entire 5.42% stake in PB Fintech, Policybazaar’s parent company, for ₹2,425 crore.
Temasek’s subsidiary, Claymore Investments (Mauritius) Pte Ltd, executed the sale in three BSE transactions. The total number of shares offloaded was 2,44,30,015 at an average price of ₹992.8 per share, for a total transaction value of ₹2,425.41 crore.
Meanwhile, Capital Group, a US-based financial services firm, bought shares of PB Fintech in seven transactions.
Svf Python II (Cayman), a subsidiary of Japanese conglomerate Softbank, sold a 2.5% stake in PB Fintech for ₹914 crore in December.
Looking at the company’s financial performance for December month their net revenue rose by 42% YoY from ₹610 crores to ₹871 crores and on a sequential basis their revenue rose by 7.2% from ₹812 crores to the current level.
PB Fintech Ltd’s net profit rose by 143% YoY from a net loss of ₹1.94 crores to a net profit of ₹0.84 crores and on a QoQ basis, the net profit of the company rose by 286% from a net loss of ₹0.45 crores to the current level.
PB Fintech Ltd has a market capitalization of ₹44,000 crores, the share price of the company rose by 30% in the last six months and 132% last year. For instance, if an investor invested ₹1 lakh a year ago the current value of the investment would be 2.32 lakhs.
PB Fintech Ltd, also known as Policy Bazar, is India’s largest online platform for insurance and lending products, with its flagship brands Policybazaar and Paisabazaar providing easy access to insurance, credit, and other financial products.
Written by Sriram KV
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