Softbank sells 5.1% stake in Policybazaar for Rs 1042.5 crore

5 Dec 2022 , 10:17 AM

Softbank sold 5.1% of PB Fintech, the parent company of Policybazaar, in an open market deal for Rs1 ,043 crore. 5.28% of the company’s shares, or 2,284,224 shares, were sold by SVF India Holdings (Cayman), according to to block deal data made available by the National Stock Exchange (NSE). The organization is a division of Softbank.

The shares were sold at an average price of Rs456.4 per share, for a total transaction value of Rs1,042.52 crore.

Softbank’s stake in the company will fall from 10.16% to 5.06 percent following the current deal.