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SoftBank Likely To Sell Shares Worth $105 Mn In India’s PB Fintech

By VCWorld Bureau on October 6, 2023 • ( 0 )

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SoftBank Group is likely to sell shares worth up to USD 105 million in India’s PB Fintech via block deals, according to media reports. The indicative price for the block deals is likely in the range of Rs 752 to Rs 767 per share.

Shares of PB Fintech, parent of online insurance aggregation platform PolicyBazaar, closed at Rs 767 on Thursday.

SoftBank may sell a 2.54 per cent stake in PB Fintech at a discount of up to 2 per cent, reportedly. As of June 2023, SoftBank holds a 4.39 per cent stake in the company through its venture capital fund, according to exchange data.

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