Shares of PB Fintech, the parent company of Policybazaar, witnessed a surge of over 5 percent in opening trade on June 6, following a significant deal worth Rs 428.10 crore on the exchanges.
In this substantial transaction, approximately 33 lakh shares, representing a 0.73 percent stake in the company, changed hands. The deal was executed at an average price of Rs 1,297 per share, marking a slight premium from the stock’s previous close of Rs 1,293.35.
As of 10:03 am, the shares were trading at ₹1,294.25.
This notable deal in PB Fintech comes on the heels of two other major stake sales in the company last month. Initially, two of PB Fintech’s top executives, Chairman Yashish Dahiya and Vice-Chairman Alok Bansal, sold 83.7 lakh shares, constituting a 1.86 percent stake in the company, through two block deals.