Chinese multinational technology conglomerate Tencent Holdings Limited is likely to sell a 2.1% stake in PB Fintech Limited (NSEI:POLICYBZR) via block deal at an estimated price of INR 16,100 million. The floor price for the issue is expected at INR 1,660.2 per share, which is at a discount of 4.4% over 28 August 2024 closing price of INR 1,737.10. The news was reported by ET Now.
Tencent held a 4.6% stake representing over 19.4 million shares in the Policybazaar parent through Tencent Cloud Europe B.V. as of June 30, 2024.
PB Fintech Limited is an India-based online marketing and consulting company. The Company is in the business of rendering online marketing and information technology consulting/support services for the financial service industry, including insurance. Its segments include Insurance services segment, which consists of insurance broker services and Other services segment, which consists of online marketing, consulting and support services. It provides access to insurance, credit and other financial products. It offers Policybazaar and Paisabazaar platform that addresses the online insurance and lending markets. The Policybazaar platform is an online platform for consumers and insurer partners to buy and sell core insurance products. The Paisabazaar is an independent digital lending platform that enables consumers to compare, choose and apply for personal credit products. Its platforms serve consumers with varied needs, credit profiles, demographics, employment types, and income levels.
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Investor
Investor
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Global
Global
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