PB Fintech shares surge over 8% after this major development surrounding its fund raising plan

Shares of PB Fintech Ltd. gained as much as 4.5% on Thursday, February 5, after the company made an announcement with regards to its board meet scheduled to be held today.

The company said that the board meet, that was to consider the proposal of raising funds through a QIP, has now been cancelled. Neither did the company specify the reason behind the cancellation, nor did it share whether the meeting will be held at any new date in the future.

Sources have now told CNBC-TV18 that the company has put its acquisition plans in abeyance. The move follows concerns and feedback that the company received from shareholders.

CNBC-TV18 has written to PB Fintech and is awaiting a response on this.

Shares of PB Fintech are now trading 8.2% higher at ₹1,559.5, having declined over 12% in the last four trading sessions.

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