Yashish Dahiya trims stake in PB Fintech; sells over 37 lakh shares

8 Jun 2022 , 01:07 PM

As on 31 March 2022, Yashish Dahiya held 1,90,08,349 shares (representing 4.23% stake) of PB Fintech. PB Fintech on Monday (6 June) informed that Yashish Dahiya, chairman and CEO of the company, intends to sell up to 37,69,471 equity shares via bulk deals on the stock exchanges. The company submits that the aggregate shareholding of Yashish Dahiya after the initial public offer (IPO) of the company was 1,72,38,878 (3.84%) and total number of ESOPs options vested and due for exercise immediately after the IPO of the company were 1,06,57,500. Out of the above outstanding stock options, he exercised 1,05,09,601 shares during February 2022 and May 2022. The remaining 1,47,899 vested ESOPs will be exercised within next few days. Apart from above vested stock options, 71,96,604 stock options were granted on 05 October 2021, which will get vested and exercisable over a period of 5 years commencing from the grant date i.e. 05 October 2021. The aggregate shareholding of Yashish Dahiya as on 31 March 2022 was 1,90,08,349 (4.23%) and post exercise of 55,09,601 ESOPs during May 2022 his aggregate shareholding increased to 2,45,17,950 (5.45%). As the ESOPs are subject to payment of taxes on exercise in addition to the payment of capital gain tax on the sale of shares, the proceeds from the sale of the 37,69,471 shares are proposed to be used to make the payment of current and future taxes. The aggregate shareholding of Yashish Dahiya on account of exercise of 71,96,604 stock options which will get vested and exercisable over a period of 5 years commencing from the grant date i.e. 05 October 2021, will increase to 2,80,92,982 (5.98 %) on a fully diluted basis post the proposed sale. There is no further sale of shares planned beyond these shares, at least for 1 year, the company said in a statement. PB Fintech, the owner of Policybazaar and Paisabazaar platforms, is Indias largest online platform for insurance and lending products. PB Fintech reported a consolidated net loss of Rs 219.60 crore in Q4 FY22 as against a net loss of Rs 64.38 crore in the year-ago period. Operating revenue during the quarter doubled to Rs 540.3 crore from Rs 270.76 crore recorded in Q4 FY21. The scrip added 0.04% to currently trade at Rs 583.05 on the BSE. Powered by Capital Market – Live News