News Update

After Paytm, SoftBank will now sell a 5% stake in PB Fintech in a bulk transaction

• ByStartupStory     |    December 2, 2022

SoftBank Group plans to sell a 5% stake in India’s PB Fintech Ltd., the parent company of online insurance aggregator Policybazaar, in a block deal, according to local media station CNBC-TV18, citing sources.

According to CNBC-TV18, the block deal on Friday might be at a base price of 440 rupees per share. On Thursday, PB Fintech’s stock closed at 461 rupees. SoftBank declined to comment, while PB Fintech did not react quickly to a request for comment from Reuters.

According to market statistics, the Japanese corporation SoftBank controls more than 10% of PB Fintech through two of its subsidiaries.According to the CNBC-TV18 tweet, one of the units, SVF India Holdings, will likely sell the shares.

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