PB Fintech shelves plan to raise funds for acquisitions via QIP

PB Fintech, the parent company of the insurance marketplace Policybazaar, has shelved its plans of raising fresh funds through a qualified institutional placement (QIP), it said in a stock exchange filing with the BSE on Friday.

The company said its management and board are not considering a QIP, as initially planned by the firm.

This follows the cancellation of its board meeting scheduled for February 5. The Gurugram-headquartered firm had told investors and stock market analysts that the company was planning to raise funds to explore acquisition opportunities outside the country.


Speaking with analysts after its December quarter results, Yashish Dahiya, group chairman, PB Fintech, had said that the plans for inorganic expansion were yet to mature as he needs board approval for the same.

The move follows heat on PB Fintech’s shares since the management’s announcement about acquisitions. The stock had fallen around 10% on the BSE to Rs 1,434 on February 5, but climbed to Rs 1,572 once news about its board meeting being cancelled came out. Its share price was at Rs 1,539 on February 2, the day the results were announced.

The company had closed the FY26 December quarter with a net profit of Rs 189 crore, up 164% from Rs 71.5 crore a year back. Its operating revenue went up 37% to Rs 1,771 crore, compared to Rs 1,291.6 crore a year back.

In a separate filing with the exchanges, the company said that its payments subsidiary PB Pay had received the approval from the Reserve Bank of India to operate as a payment aggregator. This will help it join the likes of Razorpay, Cashfree, Pine Labs, Paytm, and others.