Shares of Policybazaar or PB Fintech will be in focus tomorrow on the back of a large block deal. According to a report from CNBC-TV18, Tencent is expected to sell 2.1% stake or 9.7 million shares in the company via a large block deal tomorrow. The report stated that the block deal is likely to take place at 4.5% discount to the current market price of Rs 1,737.90 on the NSE.
The floor price of the PB Fintech block deal is set at Rs 1,660.20 per share. Furthermore, the report also said that the seller will have a lock-up of 60 days to sell any further stake in the company. As per the latest shareholding pattern, Tencent held 4.26% stake in PB Fintech.
