Softbank Group to sell 5% stake in PB Fintech on Friday: Reports

Softbank Group is likely to sell a 5% stake in Policybazaar parent PB Fintech Ltd through a block deal on Friday, according to reports.

Through the sale, Softbank aims to raise Rs 1,000 crore. After the sale, it will hold a 5% stake in the online insurance aggregator.

Softbank is likely to sell 2.2 crore shares in the block deal, and the base price for the same is Rs 440, which is at a discount of 4.5% to Thursday’s closing price of Rs 461.


On Thursday, shares of PB Fintech ended 1.8% higher at Rs 461. Year-to-date, the stock has given negative returns of over 51%.

Existing stakeholders of various listed new-age technology companies have been looking at partially offloading their stake amid major erosion in the value of stocks. In November, American investment major Tiger Global Management sold over 4% stake in PB Fintech.