Tiger Global Management sold shares of PB Fintech, the parent company of Policybazaar, on Monday for Rs 522 crore in open market transactions.
PB Fintech runs the credit comparison website Paisabazaar as well as the online insurance marketplace Policybazaar.
A total of 1,34,17,607 shares, or 2.98% of the firm, were sold by two funds managed by Tiger Global, Tiger Global Eight Holdings and Internet Fund III Pte, according to bulk trade data made available by the National Stock Exchange (NSE).
Averaging between Rs389.38 and Rs389.44 per share, the shares were sold, bringing the total transaction value to Rs522.50 crore.
WF Asian Reconnaissance Fund, meanwhile, purchased 50 lakh shares of the business.
According to shareholding information filed with the market, Tiger Global owned 4.23% of the company through its fund Tiger Global Eight Holdings and 2.87% through Internet Fund III Pte.
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