SoftBank to cut stake in PolicyBazaar by half
2 years ago

SoftBank to cut stake in PolicyBazaar by half

Live Mint  

Japanese conglomerate SoftBank will sell half of its stake in listed insurance aggregator PolicyBazaar, owned by PB Fintech, in a block deal on 2 December, for an amount of $130 million, according to a person aware of the development. The investment management giant will divest 5% stake, around 22 million shares, out of the total 10% stake in PolicyBazaar at a floor price of ₹440 apiece, said the individual mentioned above. The conglomerate initially invested nearly $200 million in PolicyBazaar in 2018 from its Vision Fund I. Citi is the sole banker for this deal, according to the individual mentioned above. Earlier in November, US-based venture capital company Tiger Global divested a 3.57% stake in PB Fintech via open the market with 1.6 crore shares worth ₹606 crore exchanging hands in a secondary market transaction in the range of ₹374-388 per share.

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Policybazaar for Business and Young Ophthalmologist Society of India Join Forces to Shield India’s Young Ophthalmologists from Litigation Risks
2 weeks, 6 days ago

Policybazaar for Business and Young Ophthalmologist Society of India Join Forces to Shield India’s Young Ophthalmologists from Litigation Risks

Live Mint  

PBFB Reports 60% Growth in Demand for Professional Indemnity Insurance Among Indian Ophthalmologists • 60% growth in lead traffic from eye specialists • 80% growth demand from specialists in general • 125% increase in policies sold Gurugram, 27 November 2024 – Policybazaar for Business, a leader in customized insurance solutions for healthcare professionals, has partnered with the Young Ophthalmologist Society …

Paisabazaar is PB Fintech’s Achilles heel
1 month, 2 weeks ago

Paisabazaar is PB Fintech’s Achilles heel

Live Mint  

The September quarter result of PB Fintech Ltd was a mixed bag. Revenue from its core business of online insurance broking through Policybazaar.com grew 41% year-on-year to ₹624 crore. On the other hand, the core non-insurance business – Paisabazzar.com – saw revenue decline 7.14%, from ₹154 crore in Q2FY24 to Rs143 crore in Q2FY25. Healthcare bet Beyond the financials, investors …

PB Fintech shares rise 3% after posting fourth consecutive quarterly profit in Q2
1 month, 2 weeks ago

PB Fintech shares rise 3% after posting fourth consecutive quarterly profit in Q2

Live Mint  

Stock Market Today: PB Fintech, the parent company of Policy Bazaar and Paisa Bazaar, witnessed a 3.4% rise in its share price to ₹1,696 apiece in early morning trade on Wednesday, November 6. This boost came after the company announced its fourth consecutive quarterly profit on Tuesday, driven by strong growth in its new health and life insurance business. PB …

PolicyBazaar’s parent PB Fintech to form a payment aggregator subsidiary
9 months ago

PolicyBazaar’s parent PB Fintech to form a payment aggregator subsidiary

Live Mint  

PolicyBazaar’s promoter PB Fintech on Wednesday said its board has approved the incorporation of a wholly-owned subsidiary for payment aggregator business. The new subsidiary called PB Pay Private Limited would “carry on the business of payment aggregator – domestic and / or cross border or both, as may be permitted by the Reserve Bank of India, by facilitating merchants with …

PB Fintech stock sees sharp recovery, up 82% in 2023 so far
1 year, 1 month ago

PB Fintech stock sees sharp recovery, up 82% in 2023 so far

Live Mint  

New-age tech stocks have bounced back strongly from their poor show in CY22, and PB Fintech, the parent company of Policy Bazaar and Paisa Bazaar, was one such which delivered a tremendous return in CY23 after a steep drop in the previous calendar year. Particularly, its core online business segment, Health & Term Insurance, witnessed an impressive 53% YoY growth …

SoftBank may sell 2.54% stake in PB Fintech worth ₹874 crore via a block deal
1 year, 2 months ago

SoftBank may sell 2.54% stake in PB Fintech worth ₹874 crore via a block deal

Live Mint  

SoftBank is likely to off-load 2.54 per cent stake in PB Fintech worth nearly ₹874 crore via a block deal, sources told CNBC-TV18. The Masayoshi Son-led investment holding company may undertake the share sale at 0-2 percent discount to ₹767 current market price, the sources added. As of June 2023, SoftBank held 4.39 percent in the fintech company, which is …

PB Fintech shares fall for second session; should you buy, sell or hold?
1 year, 4 months ago

PB Fintech shares fall for second session; should you buy, sell or hold?

Live Mint  

PB Fintech shares continued its losing streak for the second consecutive session on Wednesday's trade following the release of the company's Q1FY24 earnings on Monday, in which it trimmed its on-year losses. On Monday, PB Fintech posted its Q1FY24 earnings where the company reported a net consolidated loss of ₹11.9 crore, which was 94% less than the net loss of …

PB Fintech shares hit 52-week high for second consecutive day
1 year, 5 months ago

PB Fintech shares hit 52-week high for second consecutive day

Live Mint  

PB Fintech share price surged over 4% on Tuesday to hit a 52-week high of ₹731.65 apiece on the BSE, extending the rally for the second consecutive day after the company’s management shared a strong business growth plan in its first virtual meeting with analysts since listing. The parent company of Policybazaar, PB Fintech highlighted the operating efficiencies, growth in …

SoftBank shares surge after Alibaba unveils six-way split of its businesses
1 year, 8 months ago

SoftBank shares surge after Alibaba unveils six-way split of its businesses

Live Mint  

SoftBank Group Corp. surged in Tokyo trading after Alibaba Group Holding Ltd. announced a six-way split of its businesses, fueling optimism for a recovery at one of the Japanese company’s most important holdings. “The expectation is for the spinoff units to have their businesses properly valued, which will boost Alibaba’s overall corporate value.” SoftBank founder Masayoshi Son has relied on …

Why top mutual fund is buying Delhivery, Policybazaar shares
1 year, 11 months ago

Why top mutual fund is buying Delhivery, Policybazaar shares

Live Mint  

Franklin Templeton bought shares of some Indian technology startups after concerns over valuations and higher interest rates shaved more than $20 billion in market value from five high-profile recent market debutants. “We are looking at new tech companies as their valuations have been reset,” Anand Radhakrishnan, chief investment officer for equities at Franklin Templeton’s India unit, said in an interview. …

PB Fintech shares gain after SoftBank reduces stake by half; details here
2 years ago

PB Fintech shares gain after SoftBank reduces stake by half; details here

Firstpost  

After the news, the PB Fintech was trading at a price of Rs 470.20 per share at 12:51 pm, which is a jump of 2 percent since the market opened Around 2.28 crore shares, amounting to 5.1 percent equity, of PB Fintech changed hands in a block trade today, 2 December. After the news, PB Fintech was trading at a …

SoftBank plans to sell 5% stake in Policybazaar via block deal tomorrow: Report
2 years ago

SoftBank plans to sell 5% stake in Policybazaar via block deal tomorrow: Report

Live Mint  

Japanese conglomerate SoftBank Group Corp is planning to sell a 5% stake in PB Fintech, the parent of online insurance marketplace Policybazaar, via a block deal on Friday, reported Reuters citing a report. From tomorrow's block deal, through which Softbank is aiming to raise ₹1,000 crore, could be at a base price of ₹440 a share, at a discount of …

Policybazaar Plunges 10% on CEO Yashish Dahiya's Stake Sale Plan; What Should Investors Do?
2 years, 6 months ago

Policybazaar Plunges 10% on CEO Yashish Dahiya's Stake Sale Plan; What Should Investors Do?

News 18  

Policybazaar Shares: PB Fintech, the parent company of Policybazaar & Paisabazaar, tanked 10 per cent in morning trades to Rs 595 on the BSE in Tuesday’s intra-day after Yashish Dahiya, chairman executive and CEO of the company revealed his plan to sell up to 3.77 million equity shares through an open market. “The Company has received an intimation from Mr. …

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