Policybazaar parent PB Fintech promoters plan stake sale worth ₹654 crore

Promoters of PB Fintech, the parent company of Policybazaar, are set to offload shares worth up to ₹654 crore through a block deal on Thursday, according to a term sheet seen by Business Standard.

The proposed transaction involves the sale of up to 3.8 million shares, representing around 0.8 per cent of the company’s total outstanding equity.

The shares are being offered at a floor price of ₹1,720 apiece, reflecting a discount of around 3.6 per cent to PB Fintech’s closing price of ₹1,784.8 on Wednesday.

The sellers are PB Fintech co-founders Yashish Dahiya and Alok Bansal, the term sheet showed.

Kotak Securities is acting as the sole bookrunner for the deal.