PB Fintech sees Rs 665 crore block deal as founders pare stake; Goldman among other top funds buy

PB Fintech witnessed a block deal worth about Rs 665 crore on Friday, with co-founders Yashish Dahiya and Alok Bansal selling shares to a clutch of domestic and foreign institutional investors. According to exchange data, a total of 38 lakh shares changed hands at Rs 1,751 apiece, translating into a transaction value of about Rs 665 crore.

The sell-side comprised PB Fintech Chairman and Group CEO Yashish Dahiya, who sold 26 lakh shares, and Vice Chairman Alok Bansal, who sold 12 lakh shares.

On the buy side, the shares were absorbed by a diverse group of institutional investors, including National Pension System Trust, Tata Mutual Fund, Morgan Stanley Asia Singapore, Goldman Sachs Bank Europe, BNP Paribas Financial Markets and several funds managed by Wasatch Advisors.


Other investors participating in the transaction included Viridian Asia Opportunities Master Fund, Ghisallo Master Fund, St James's Place Emerging Markets Equity Unit Trust, Societe Generale and multiple pension and retirement funds from the US.

The deal comes after a strong run in PB Fintech shares over the past year, driven by improving profitability, growth in its insurance distribution business and continued expansion of its credit marketplace.

PB Fintech operates digital platforms Policybazaar and Paisabazaar, which are among the country's largest online insurance and lending marketplaces.

Shares of PB Fintech will remain in focus as investors assess the impact of the stake sale and changes in promoter shareholding following the transaction.