SoftBank To Sell 5% Stake In PB Fintech For $250 Cr


SoftBank plans to sell a 5 per cent stake in PB Fintech, the parent company of Policybazaar, through a block deal. The stake, valued at Rs 1,000 crore, would be sold. According to media reports, the block deal’s starting price is Rs 440 per share.

SoftBank has an investment of $199 million in Policy Bazaar and sold shares worth $250 million in its IPO the previous year. It has made a 2.5-fold return on its investment in the insurance aggregator at an internal rate of return of 38 per cent.

Softbank holds approximately 10 per cent of PolicyBazaar. After the deal, Softbank will have a 5 per cent stake in the company. According to the report, it will be trading at a 5 per cent discount to its December closing price.

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