Softbank Offloads Additional Stake In PB Fintech Worth Rs 913 Cr

The Softbank company SVF Python II Cayman sold 1,14,21,212 equity shares in the Policy Bazar operated PB Fintech through open market transaction on Friday 15 December. SVF sold these shares for a total market value of Rs 913.75 crore at a price of Rs 800.05 per share.

Subsequently, the deal resumed the selling pressure on the stock after its five days of losing streak. The stocks in Friday trading session settled at Rs 789 with 2.36 per cent loss.

However, HDFC Mutual Fund bought 1.15 million shares and Government Pension Fund purchased 1.6 million shares of PB Fintech at the same price of Rs 800.

Earlier, Softbank also off-loaded 1.14 crore shares, which accounts for 2.54 per cent stake of the company, for Rs 871.2 crore in October.

PB Fintech reduced its losses in second quarter to Rs 21 crore, 89 per cent decrease from the same period last year. Moreover, its topline increased 42 per cent year-on-year (YoY) to Rs 812 crore.

The PB Fintech has delivered 75 per cent year-to-date (YTD) returns outperforming the benchmark Nifty, Sensex and other indices returns.