Tencent Cloud Europe BV, a subsidiary of Chinese tech giant Tencent, has divested a portion of its ownership in PB Fintech, the holding company of Policybazaar and Paisabazaar, through a block deal transaction.
The sale involved 48,40,439 shares of PB Fintech at Rs 1,435.10 per share, totaling approximately Rs 694.65 crore. Prior to this, Tencent Cloud Europe held 97,48,750 shares, representing a 2.12% stake in PB Fintech, which decreased to 1.06% post-transaction.
Various institutional investors took part in the block deal. DSP Mutual Fund acquired 3,25,643 shares valued at Rs 46.73 crore, while Mirae Asset Mutual Fund purchased 9,00,000 shares amounting to Rs 129.15 crore.
Notably, Goldman Sachs entities were significant buyers in the deal. Goldman Sachs Bank Europe SE acquired 7,01,249 shares worth Rs 100.63 crore, and Goldman Sachs Bank Europe SE – ODI procured 5,64,508 shares totaling Rs 81 crore.
Additional buyers included Schroder Asian Alpha Plus Fund, Schroder AsiaPacific Fund PLC, Société Générale (ODI), Tata Mutual Fund, and Viridian Asia Opportunities Master Fund, collectively investing millions in PB Fintech.
This move follows PolicyBazaar’s recent financial report, showing a substantial revenue increase and profit surge in Q3 FY26. At the close of trading, PolicyBazaar had a market capitalization of approximately $7.2 billion.
Source: Entrackr : Latest Posts