PB Fintech stock price up by 5% in opening session today

6 Jun 2024 , 11:27 AM

PB Fintech, the parent company of Policybazaar, saw its shares surge by over 5% in opening trade on June 6. A block deal worth ₹428.10 Crore in the shares of the company took place on the exchanges today. This is equivalent to a 0.73% stake in the company.

The transaction was executed at an average price of ₹1,297 per share, representing a slight premium compared to the previous day’s close of ₹1,293.35. At the time of writing, the stocks were trading at ₹1289.75 which is a 0.28% increase than the previous close. The stock has gained 106% in the last one year, and 61% since the beginning of the year.

This large deal follows two other major stake sales last month, including sales by PB Fintech’s top executives, Yashish Dahiya and Alok Bansal, as well as Tencent Cloud Europe.

Notable investors like SoftBank, Tencent, Temasek Holdings, and BNP Paribas have been offloading their holdings in PB Fintech over the past year to capitalize on the significant increase in the company’s stock value, which has more than doubled.

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