SoftBank likely to sell 5% stake in PB Fintech
As of September 2022, SoftBank held a 10.17% stake in the company that operates the online insurance aggregator. The sale will almost halve this stake. SoftBank and Citigroup, the sole book runner for the deal, did not respond to ET's queries till...
By ET Bureau | Updated:
ETtech
Japan's SoftBank is likely to sell a 5% stake in Policybazaar parent PB Fintech through a block deal on Friday to raise nearly ₹1,000 crore.
It has offered to sell up to 22 million shares at a base price of ₹440, a discount of 4.3% to the stock's closing price of ₹460 on the NSE Thursday, people in the know said.
As of September 2022, SoftBank held a 10.17% stake in the company that operates the online insurance aggregator. The sale will almost halve this stake.
SoftBank and Citigroup, the sole book runner for the deal, did not respond to ET's queries till press time Thursday.
PB Fintech's shares, which fell 62% in the past one year, ended 1.6% up on Thursday on the NSE.
It has offered to sell up to 22 million shares at a base price of ₹440, a discount of 4.3% to the stock's closing price of ₹460 on the NSE Thursday, people in the know said.
As of September 2022, SoftBank held a 10.17% stake in the company that operates the online insurance aggregator. The sale will almost halve this stake.
SoftBank and Citigroup, the sole book runner for the deal, did not respond to ET's queries till press time Thursday.
PB Fintech's shares, which fell 62% in the past one year, ended 1.6% up on Thursday on the NSE.
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