On December 15, SoftBank Group Corp’s Vision Fund sold 11.4 million shares of financial services platform PB Fintech at ₹800.05 per share, bringing the total transaction to ₹914 crore. At the same time, the Government Pension Fund Global acquired 1.6 million shares of PB Fintech, while HDFC Mutual Fund purchased 1.15 million shares at the same price.
- The SoftBank fund sold 11.4 million shares of PB Fintech for ₹914 crore.
- Meanwhile, the Government Pension Fund Global purchased 1.6 million shares, and HDFC Mutual Fund acquired 1.15 million shares.
According to block deal data available with the BSE, Svf Python II (Cayman) Ltd offloaded a total of 1,14,21,212 shares in 10 tranches, which is 2.54%, in PB Fintech. After this transaction, Softbank’s shareholding declined to 1.85% from a 4.39% stake in PB Fintech.
PB Fintech was co-founded by Yashish Dahiya and Alok Bansal in 2008 and operates an online insurance platform, Policybazaar, and credit comparison portal, Paisabazaar. The company went public in November 2021.
SoftBank, which was one of the early investors in India’s tech arena, has been systematically reducing its stakes in various firms, including Paytm, Delhivery, and Zomato.
PB Fintech’s shares ended at ₹789.45, down by ₹18.65, or 2.31% on the BSE.
