PB Fintech stock down 8%, Founders to sell 2.4% stake in a block deal worth $140 million

PB Fintech stock down 8%, Founders to sell 2.4% stake in a block deal worth $140 million
Stock Price (Image: Canva)

Today the stock price of Policybazaar and Paisabazaar’s parent company PB Fintech Limited was trading down more than 8%.

Yashish Dahiya and Alok Bansal, co-founders of PB Fintech will sell a 2.4% stake in the company, in which Mr. Dahiya will sell 70 lakh shares and Alok Bansal will sell 38.9 lakh shares, worth $130-$140 million.

Apart from this, today 64.7 lakh shares were exchanged through a block deal in PB Fintech Limited at an average price of Rs 822 per share. The value of this deal is around Rs 534 crore, which makes up to a 1.4% stake in the company.

In the last one month, the share price of the company has gone down almost 7% and the company is trading at an almost 19% discount from its IPO issue price.

Read Also: Nifty and Sensex down 1.7% on high US inflation, Fed’s James Bullard supports Rate hikes

Read Also: Definition and Current Repo Rate and Reverse Repo Rate

This article is only for education purpose and the author has his own views and research, so if you invest in these stocks then do it at your own risk and do the research yourself before investing.

Read Also: DB Realty to issue 50 million convertible warrants to non-promoter investors, share rises 5%

Read Also: IRCTC declared interim dividend of Rs 2 per share

Read Also: IOC dividend: Indian Oil Corporation Limited declared dividend of Rs 4

Read Also: Bharat Petroleum Corporation Limited declared dividend of Rs 5 | BPCL dividend

Read Also: Sensex and Nifty almost 2% down amid rising oil price, FII sell-off, and US job data