Shares of PB Fintech slipped 0.5% to ₹1,831.10 on the NSE during early trade on Wednesday, June 26, following a significant block deal transaction executed in the pre-open window. Approximately 50.5 lakh shares changed hands at an average price of ₹1,821.50 per share, translating to a total deal value of around ₹920 crore.
The traded quantity represents about 1.1% of PB Fintech’s total outstanding equity. While the identities of the buyers and sellers remain undisclosed, CNBC-TV18 reported that company co-founders Yashish Dahiya and Alok Bansal were likely the sellers, offloading the same number of shares mentioned in the block deal. The report also highlighted a 90-day lock-in period imposed on the selling promoters.
Despite this transaction, global brokerage Citi has maintained a ‘Buy’ rating on the stock with a target price of ₹2,185 per share. Citi expects strong growth in PB Fintech’s health insurance segment and a positive outlook for Paisabazaar’s business momentum.
As of the latest update, PB Fintech’s market capitalization stood at ₹83,712 crore, with the stock trading between ₹1,816.30 and ₹1,888.00 during the day.
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